Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
| 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 Jan 2020 - 30 Jun 2020 | 27 Jul 2020 | 67 | 29% | 17% | 54% | 91% |
| 01 Jul 2019 - 31 Dec 2019 | 23 Jan 2020 | 67 | 27% | 18% | 55% | 85% |
| 01 Jan 2019 - 30 Jun 2019 | 20 Sept 2019 | 72 | 18% | 20% | 62% | 83% |
| 01 Aug 2018 - 31 Dec 2018 | 22 Jul 2019 | 69 | 14% | 16% | 70% | 71% |
| 03 Feb 2018 - 31 Jul 2018 | 25 Jul 2019 | 76 | 18% | 21% | 61% | 70% |
| 29 Jul 2017 - 02 Feb 2018 | 01 Mar 2018 | 72 | 16% | 24% | 60% | 62% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Clays Limited standard payment terms are 93 days from the end of the month of the invoice date. For certain suppliers e.g. regulatory bodies, one-off suppliers, or suppliers below a certain level of expenditure, payment terms can be less that the standard ones. Payment terms are notified to the supplier as part of the on boarding process which involves the completion of the standard new suppliers form, with parts completed by the supplier and the relevant procurement contact. The supplier form is submitted to the accounts payable tea, in accordance with the delegated authorities, to upload in the system. Subsequent changes to the terms where applicable, are discussed between the procurement contact and the supplier and notified to the accounts payable team.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
150
A discrepancy dashboard is created weekly by the accounts payable team and queried with the appropriate internal contact. The responses received are actioned weekly (outside of month end). If there is no resolution, then it is escalated to the Financial Controller. Communications from the supplier about invoices in dispute are investigated by the accounts payable team and, if required, are escalated to the relevant contact address.
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
Clays Ltd, registered at Clays Printing Works in Bungay, is a long-established printing and binding company, incorporated in 1938 and previously known as Richard Clay Ltd until 1989. Its registered business activities cover printing not elsewhere classified and binding and related services, indicating a focus on book manufacturing for the publishing trade. The company remains active, filing accounts and confirmation statements with Companies House. No further detail on ownership structure, scale of operations or specific clients is available from the evidence supplied.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk