Company number: 03124721
and approved by Bryn Marsh
Average time taken to pay invoices: 42 days
Invoices paid:
Invoices due but not paid within agreed terms: 81%
0 days
30 days
Standard payment terms are 30 days end of month, all suppliers are paid on these terms unless it is otherwise agreed. Small suppliers or suppliers who require deposits or pro forma invoicing are paid on 0 days when requested.
Answer not provided
N/A
60 days
60 days end of month
Standard payment terms of 30 days end of month are applied with mutual agreement by all suppliers who do not require immediate payment. Whilst 81% of payments are made later than the terms set out on the suppliers invoice, there is a mutual understanding and clear communication that terms of 30 days end of month will be applied to transactions. CNC Speedwell pay consistently to these terms and work with suppliers to ensure payments are made in a reasonable manner - as demonstrated by the relatively low average payment days and small number of transactions settled in over 60 days.
Complaints or concerns are dealt with on a reasonable basis by the Financial Controller and the Managing Director, with the relevant parties concerned.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No