Industry ranking
Score of 83.7/100 qualifies for PaymentCheck Certification
The average time taken for EUROTUNNEL SERVICES LIMITED to pay invoices has fluctuated between 20 and 33 days over the past three years. However, there has been an overall decrease in the average time taken to pay invoices since 2019.
The volatility in the percentage of invoices paid within 30 days has been relatively low, ranging from 77% to 88%. However, there has been a significant increase in the percentage of invoices paid later than 60 days in 2020, reaching a high of 9%.
Between 2018 and 2020, EUROTUNNEL SERVICES LIMITED showed improvement in their payment practices, with a decrease in the average time taken to pay invoices and an increase in the percentage of invoices paid within 30 days. However, there was a significant increase in the percentage of invoices paid later than 60 days in 2020, which may have impacted their suppliers negatively. In 2021, there was a slight decrease in the average time taken to pay invoices, but the percentage of invoices paid within 30 days also decreased. In 2023, there was an increase in the average time taken to pay invoices, but the percentage of invoices paid within 30 days improved.
| 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 | 31 Jan 2025 | 24 | 91% | 5% | 4% | 39% |
| 01 Jan 2024 - 30 Jun 2024 | 19 Aug 2024 | 25 | 84% | 13% | 3% | 28% |
| 01 Jul 2023 - 31 Dec 2023 | 01 Feb 2024 | 26 | 85% | 10% | 5% | 24% |
| 01 Jan 2023 - 30 Jun 2023 | 01 Aug 2023 | 28 | 78% | 19% | 3% | 16% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 26 | 84% | 14% | 2% | 37% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Aug 2022 | 26 | 77% | 17% | 6% | 31% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 33 | 79% | 11% | 10% | 36% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 29 | 85% | 8% | 7% | 25% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 33 | 81% | 10% | 9% | 29% |
| 01 Jan 2020 - 30 Jun 2020 | 23 Jul 2020 | 23 | 84% | 13% | 3% | 38% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 20 | 88% | 10% | 2% | 34% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 20 | 88% | 11% | 1% | 32% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 27 | 82% | 14% | 4% | 53% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 23 | 83% | 15% | 2% | 49% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are to pay suppliers within 30 days date of invoice, assuming that the invoice is sent immediately to the Accounts Payable Dpt, quoting a valid PO and that goods or services are delivered in accordance with the purchase order. However payment terms may be negotiated on a case by case basis depending on the commercial situation. Pay-runs are processed once a week and include any item due before the next payment run date.
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
60
Disputes are handled by the manager of the contract with the support of the Procurement Department and Legal Department if necessary.
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
Eurotunnel Services Limited is registered at the UK Terminal in Folkestone, Kent, and is part of the Eurotunnel group, which trades under the LeShuttle brand. The wider group operates the vehicle shuttle train service through the Channel Tunnel, carrying cars, motorcycles, coaches and their passengers between Folkestone and Calais in around 35 minutes, with up to four departures an hour. The group also offers a membership scheme, Club LeShuttle, and partner discounts for travellers. This registered company's own role sits within that operating group, which is classified under land transportation services incidental to road travel rather than as the direct operator of the cross-Channel shuttle itself.
Generated from the company's website and Companies House records. Sources: eurotunnel.com