| 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 2019 - 31 Dec 2019 | 30 Jan 2020 | 18 | 90% | 6% | 4% | 10% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 16 | 90% | 6% | 4% | 10% |
| 01 Jul 2018 - 31 Dec 2018 | 15 Feb 2019 | 19 | 86% | 8% | 6% | 14% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 40 | 55% | 26% | 19% | 26% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Company does not use standard payment terms; for the contracts covering overheads the most frequently used payment terms are 30 days while for the contracts with suppliers offering services which are resold to the customers, the most usual payment term is 14 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
The average time needed to pay the invoices (19 days) is lower than the most frequently used payment terms (30 days) because of some of the invoices have to be paid on short notice to ensure the customer's booking is confirmed by the supplier. The company encourages the suppliers to send electronic invoices via email (the email address is AccountsPayable.UK@statravel.com) to shorten the time between the invoice date and the receiving date.
Maximum contractual payment period agreed
60
The main point of contact for disputes regarding the delays in paying invoices is the Accounts Payable team which is located in Targu Mures, Romania; for disputes regarding the goods and services ordered and/or received, the responsible persons are the ones who actually contact the suppliers when raising purchase orders.
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
STA TRAVEL LIMITED is a liquidation private limited company, incorporated on 16 June 1976, based in the London region. Registered business activity: Travel agency activities.
From Companies House records.