PARAGON FLEET SOLUTIONS LIMITED demonstrates a consistent trend of paying beyond standard 30-day terms, with an average payment time of 40 days. The trajectory indicates that 59% of payments extend past 30 days, with a significant 24% falling into the "over 60 days" category.
The company exhibits low reliability regarding on-time payments, as 88% of invoices are paid late, indicating poor predictability for suppliers. This broad distribution across payment tiers, with nearly two-thirds of payments exceeding 30 days, points to a higher credit risk due to extended payment cycles.
Suppliers should anticipate an average payment window of 40 days and factor in a high likelihood of late payments (88%). It is recommended to adjust cash flow expectations accordingly and consider implementing stricter payment terms, such as shorter net periods or upfront deposits, to mitigate potential liquidity risks.
| 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 2018 - 31 Mar 2019 | 29 Apr 2019 | 44 | 27% | 52% | 21% | 12% |
| 02 Apr 2018 - 30 Sept 2018 | 26 Oct 2018 | 40 | 41% | 35% | 24% | 88% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are either 30 days or 45 days end of month following the invoice date. Payment terms outside of standard terms may be agreed if this provides mutual commercial benefit. The Company makes payments on a weekly basis. As a result, payments may be received by the supplier shortly after the due date. If a payment falls due on a bank holiday or weekend, payments will be issued in the next payment cycle. For contracted labour, payments are made on 14 day terms due to nature of the service provided. There are a number of suppliers who are paid by regular direct debit. In order for payments to be made in line with payment terms, invoices must include the purchase order number, and all other required documents must also be provided. Standard payment terms as reported here are impacted by payment terms to companies within the BCA Group.
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 should be raised in the first instance with the Accounts Payable team by email to BCAFSPurchaseLedger@bca.com. The team will investigate within 5 working days and a response will then be issued to the supplier. Should this team be unable to resolve a dispute, they would refer to the supplier’s applicable contract, which will inform the procedure to be followed to resolve a dispute. Although the Company aims to resolve queries with suppliers in a timely manner, the actual timescale for resolution will vary depending on the underlying query.
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 FLEET SOLUTIONS LIMITED was a private limited company that specialised in providing solutions for vehicle fleets. Its company name clearly indicates its focus on services related to fleet management and optimisation.
The company was incorporated on 16 August 1991, operating as a private limited entity with company number 02638543. Its registered office was located at Form 2, 18 Bartley Wood Business Park, Bartley Way, Hook, Hampshire, United Kingdom, RG27 9XA, situated within the South East region. The company is currently dissolved.
In the UK market, organisations offering fleet solutions typically provide a comprehensive range of services. These commonly include vehicle procurement, maintenance scheduling, fuel management, and telematics installation. They also often assist with driver management, route optimisation, and ensuring compliance with regulatory requirements for fleet operations.