The average time taken for TYCO FIRE & INTEGRATED SOLUTIONS (UK) LIMITED to pay invoices increased from 12 days in Oct 2017-Mar 2018 to 15 days in Apr 2018-Sept 2018, and further to 17 days in Oct 2018-Mar 2019.
The percentage of invoices paid within 30 days decreased from 90% in Oct 2017-Mar 2018 to 80% in Apr 2018-Sept 2018, and further to 75% in Oct 2018-Mar 2019. The percentage of invoices paid between 31 and 60 days and later than 60 days both increased by 5% each, from 5% and 10% in Oct 2017-Mar 2018 to 10% and 15% in Apr 2018-Sept 2018, and further to 10% and 15% in Oct 2018-Mar 2019, respectively.
In the past three periods (Oct 2017-Mar 2018, Apr 2018-Sept 2018, and Oct 2018-Mar 2019), TYCO FIRE & INTEGRATED SOLUTIONS (UK) LIMITED has seen an increase in the average time taken to pay invoices, with a 41.7% increase from the first period to the last. Additionally, the percentage of invoices paid within 30 days has decreased by 15%, while the percentage of invoices paid between 31 and 60 days and later than 60 days has both increased by 100%. This indicates a trend towards longer payment times and a decrease in timely payments.
| 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 Oct 2017 - 31 Mar 2018 | 01 May 2018 | 12 | 90% | 5% | 5% | 18% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
60 days end of month
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 are encouraged to contact the Company accounts Payables team in order to discuss queries. If further discussion is required the Procurement Department will be responsible for resolution. Further elevation according to the Company ‘Delegation of Authority’ is normal procedure
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
TYCO FIRE & INTEGRATED SOLUTIONS (UK) LIMITED is an active private limited company, incorporated on 3 October 1985, based in the North West region. Registered business activity: Other service activities not elsewhere classified.
From Companies House records.