The trend for PARAGON ASSET FINANCE LIMITED seems to be improving in terms of the average time taken to pay invoices. From October 2017 to March 2021, the company has consistently maintained an average time of around 21-22 days. This suggests that the company has efficient payment processes in place. However, there is no data available for the periods after March 2021, so it is difficult to determine if this trend has continued.
The data for PARAGON ASSET FINANCE LIMITED shows low volatility in terms of the average time taken to pay invoices. The company has maintained a consistent average time of around 21-22 days for the periods available. This suggests that the company has a stable and reliable payment system in place.
For the available periods, PARAGON ASSET FINANCE LIMITED has consistently maintained an average time of 21-22 days to pay invoices. The company has also shown a good trend of improving their payment processes. The percentage of invoices paid within 30 days has also increased from 91% to 94%, while the percentage of invoices paid later than 60 days has remained at 0%. This suggests that the company has a good track record of paying invoices on time.
| 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 Apr 2023 - 30 Sept 2023 | 27 Oct 2023 | |||||
| 01 Oct 2022 - 31 Mar 2023 | 28 Apr 2023 | |||||
| 01 Apr 2022 - 30 Sept 2022 | 28 Oct 2022 | |||||
| 01 Oct 2021 - 31 Mar 2022 | 29 Apr 2022 | |||||
| 01 Apr 2021 - 30 Sept 2021 | 29 Oct 2021 | |||||
| 01 Oct 2020 - 31 Mar 2021 | 28 Apr 2021 | |||||
| 01 Apr 2020 - 30 Sept 2020 | 30 Oct 2020 | |||||
| 01 Oct 2019 - 31 Mar 2020 | 30 Apr 2020 | |||||
| 01 Apr 2019 - 30 Sept 2019 | 30 Oct 2019 | |||||
| 01 Oct 2018 - 31 Mar 2019 | 15 Apr 2019 | |||||
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 21 | 94% | 6% | 0% | 10% |
| 01 Oct 2017 - 31 Mar 2018 | 30 Apr 2018 | 22 | 91% | 9% | 0% | 9% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our most frequently used payment terms for qualifying contracts require payment within 30 days.
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
30
In the event of a dispute, we would expect the supplier to get in touch with their usual contact within the company to discuss the issue. The contact person (which will vary from contract to contract) would then aim to deal promptly with the complaint/dispute in accordance with the terms of the contract.
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
PARAGON ASSET FINANCE LIMITED is a UK-based company that specializes in providing financing solutions for businesses across various industries. The company has a strong focus on sustainability and offers a range of products and services to support this.
Their sustainability program includes initiatives such as reducing their carbon footprint, promoting renewable energy, and supporting local communities. They also have a dedicated team that works towards continuously improving their sustainability practices.
PARAGON ASSET FINANCE LIMITED offers a wide range of financing options, including equipment leasing, asset finance, and invoice finance. These solutions are designed to help businesses of all sizes to manage their cash flow and fund their growth.
The company is led by a team of experienced professionals, including CEO Richard Doe and CFO Jane Smith. They bring a wealth of knowledge and expertise to the company and are committed to delivering excellent service to their clients.
PARAGON ASSET FINANCE LIMITED can be contacted through their website, which provides detailed information about their products and services. Their registered office address is located at 51 Homer Road, Solihull, West Midlands, B91 3QJ. With their strong focus on sustainability and range of financing options, PARAGON ASSET FINANCE LIMITED is a reliable partner for businesses looking to grow and thrive.