VISION EXPRESS (UK) LIMITED

Standard payment terms

The company has differing standard payment periods depending on the classification of the product or service acquired. Vendors for stock items are generally 60 or 90 days, end of month. The period for fixed asset suppliers are generally 60 days, end of month. Historically other vendors were generally paid 30 days, end of month however the business is moving towards new standard terms of 60 days.

Were there any changes to the standard payment terms in the reporting period?

No information available

Any other information about payment terms

Quoted number of days for standard period/terms are actually "End of month". For example an invoice dated 1st August, with terms 90 days end of month, would be payable by 30 November.

Maximum contractual payment period agreed

120

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