DAMARTEX UK LIMITED
Company number: 00852773
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
31 January 2024
Approved by:
Edward Friel
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 56%
- in 61 days or more: 22%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 66%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
30 days net monthly meaning add 30 days to the invoice date and pay at the end of that calendar month.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
All invoices are received first into the Finance Department and recorded on our purchase ledger system. The invoices are sent to the originating purchasing manager for approval in accordance with our Limits of Authority mandate. Any disputes are settled between the supplier and the originating purchasing manager.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No