ZIGUP PLC's average payment time is 47 days, with the majority (69%) of payments consistently occurring within the 31-60 day window. This indicates a clear trend of settling invoices beyond standard 30-day terms but generally within two months. A smaller yet notable 12% of payments extend beyond 60 days, suggesting a trajectory that frequently exceeds common vendor expectations.
The 20% late payment rate, coupled with 12% of payments exceeding 60 days, introduces a moderate level of unpredictability and risk for suppliers. While 69% fall within a predictable 31-60 day range, the frequency of late payments means cash flow forecasting should account for potential delays beyond stated terms. This suggests a less reliable payment pattern compared to companies consistently paying within 30 days.
Suppliers should anticipate ZIGUP PLC's payments around 47 days, with a strong likelihood of settlement between 31 and 60 days. To mitigate the 20% late payment risk and potential extensions beyond 60 days, consider structuring payment terms to accommodate a 45-60 day cycle. Proactive invoice follow-ups after 40-45 days are also recommended to manage potential cash flow impacts effectively.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Nov 2018 - 30 Apr 2019 | 30 May 2019 | 47 | 19% | 69% | 12% | 20% |
| 01 May 2018 - 31 Oct 2018 | 30 Nov 2018 | 45 | 28% | 61% | 11% | 29% |
| 01 Nov 2017 - 30 Apr 2018 | 30 May 2018 | 41 | 27% | 63% | 10% | 14% |
| 01 May 2017 - 31 Oct 2017 | 30 Nov 2017 | 40 | 28% | 63% | 9% | 13% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment due on last day of the month following the one in which the invoice is dated for non-vehicle purchases. 7 days from date of invoice for vehicle purchases.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/a
Maximum contractual payment period agreed
91
Accounts payable use a query management system which assigns queries to relevant personnel. Dispute resolution then conducted in house by the assignee. This process is completed on a timely basis. Suppliers may be contacted where appropriate.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
ZIGUP PLC is an active Public Limited Company. As a PLC, it operates under stringent regulatory requirements in the United Kingdom, with its shares available for purchase by the general public.
The company operates from its registered office at Northgate Centre, Lingfield Way, Darlington, England, DL1 4PZ, located within the North East region. ZIGUP PLC was incorporated on 2 July 1897 and holds the company number 00053171.
Public Limited Companies in the UK typically engage in a wide array of commercial activities. These organisations offer diverse products and services across various sectors, aiming to generate revenue and provide returns to their shareholders.