JCT600 VEHICLE LEASING SOLUTIONS LIMITED exhibits a consistent payment trend averaging 40 days, indicating a trajectory that extends beyond standard 30-day terms. A significant 76% of payments are settled within the 31-60 day window, establishing a clear pattern of payment in the second month following invoice receipt.
Despite 51% of payments being classified as late, the company demonstrates low volatility due to the high concentration of payments (76%) reliably falling within the 31-60 day range. The minimal 3% of payments exceeding 60 days further suggests high predictability and low risk for severely protracted delays.
Suppliers should factor in an expected payment period of 31-60 days when engaging with JCT600, adjusting cash flow forecasts accordingly. While technically late, the high predictability within this extended timeframe mitigates significant extreme payment risk, but suppliers may consider adjusting payment terms or pricing to accommodate the consistent longer cycle.
| 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 Jul 2024 - 31 Dec 2024 | 10 Jan 2025 | 40 | 21% | 76% | 3% | 51% |
| 01 Jan 2024 - 30 Jun 2024 | 11 Jul 2024 | 43 | 21% | 72% | 8% | 43% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
A significant amount of our payments are by manufacturer led direct debit and thus are by definition paid at agreed terms Purchases of used vehicles and part exchange vehicles are generally paid on a cleared funds policy. We have three brand accounting centres servicing over 50 sites. Suppliers are requested to send all invoices to these centres rather than the individual sites. But if this is not adhered to there will be inevitably some delay Our standard payment policy is payment by the end of month after receipt of invoice. ie an invoice received 15 July will be paid by 31 August.
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
90
Suppliers must submit monthly statements which allows us to check we have all invoices. Any invoices not authorised by the managers are placed in hold until the supplier can submit further documents, i.e. order note etc – if the issue is down to quality of work this will be discussed by the manager who has requested the work & the supplier, if required this will escalate up the management chain.
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
JCT600 VEHICLE LEASING SOLUTIONS LIMITED is an active private limited company. It specialises in providing vehicle leasing solutions.
Incorporated on 18 July 1968, the company holds the registration number 00935665. Its registered office is located at Tordoff House, Apperley Bridge, Bradford, West Yorkshire, BD10 0PQ, placing its operations within Yorkshire.
In the UK market, companies offering vehicle leasing solutions typically provide businesses and individuals with access to a range of vehicles, including cars and vans, through various leasing agreements. These services commonly involve contract hire or finance lease options, often encompassing vehicle sourcing, fleet management, and associated services such as maintenance packages and road tax.