TECONNEX LIMITED
Company number: 01447529
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
31 January 2025
Approved by:
Darren Spencer
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 16%
- in 31 to 60 days: 52%
- in 61 days or more: 32%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 6%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Terms are negotiated on a case by case basis. Typically for key suppliers our payment terms are 60 days, or 60 days from month end
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
Suppliers may raise disputes by emailing the purchase ledger team who seek to resolve any issues independently. Disputes are escalated to the financial controller. If a dispute is still not resolved the company will enter in to a process of self managed arbitration involving the senior management of both principles to try to reach agreement.
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.
Yes
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