BROSE LIMITED

Standard payment terms

Terms are agreed individually with suppliers. The most common terms are -: 25th of the following month -: Before 15th in 2 months due net Payment dates are 15th of the month and 25th of the month. It is company policy to pay promptly to the agreed terms and any late payments are generally as a result of invoices received late and/or invoices in dispute.

Were there any changes to the standard payment terms in the reporting period?

No information available

Any other information about payment terms

When the 15th and 25th fall on a weekend or bank holiday, the payment is received by the supplier on the next banking day. When these are excluded from "Invoice document date not paid on time" statistic, the result changes from 55% to 45% £17,253,793 to £14,758,414

Maximum contractual payment period agreed

92

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