| 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. is a UK-based company that specializes in printing and binding services for the publishing industry. They offer a wide range of high-quality products and services to their customers, while also maintaining a strong focus on sustainability.
The company has a sustainability program in place that aims to reduce their environmental impact and promote responsible business practices. This includes using eco-friendly materials, implementing energy-efficient processes, and reducing waste through recycling and reusing.
One of the key products of Clays Ltd. is their printing services, which include digital and offset printing, as well as specialized techniques such as foil stamping and embossing. They also offer binding services, including perfect binding, thread sewing, and case binding.
The company has a team of experienced professionals, including their CEO Kate McFarlan and Managing Director Paul Hulley, who are committed to providing excellent customer service and maintaining a sustainable business model.
For more information on their products, services, and sustainability program, customers can visit their website at www.clays.co.uk. The company's registered office address is Clays Ltd., Bungay Road, Bungay, Suffolk, NR35 1RT, United Kingdom.
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