| 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 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 59 | 41% | 20% | 39% | 52% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The business have three standard payment terms viz 30 days, 45 days and 60 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
60
The supplier can contact Accounts Department of the company and report to any staff about their outstanding. This can then be reported to Chief Accountant who can address to redress supplier payments and or their greivances
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
FORCE INDIA FORMULA ONE TEAM LIMITED is a liquidation private limited company, incorporated on 29 August 1989, based in the London region. Registered business activity: Manufacture of motor vehicles; Manufacture of other parts and accessories for motor vehicles.
From Companies House records.