| 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 2018 - 31 Dec 2018 | 28 Jan 2019 | 41 | 33% | 47% | 20% | 62% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 39 | 44% | 38% | 18% | 67% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Allnex Resins UK Ltd has set standard payment terms with its suppliers up to 90 days from date of invoice. If invoices fall due on a weekend or between planned payment runs, these are paid in the next available run. Terms may vary in accordance with individual supplier agreements.
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
90
Allnex Resins UK Ltd has a dedicated AP Centre of Competence service in Riga, Latvia whereby suppliers can contact the team for dispute resolution. The dispute can be further escalated to the team leader and finance manager and resolved with appropriate action.
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
Allnex Resins UK Limited is a UK entity within the Allnex group, a global chemicals business focused on industrial coating resins, crosslinkers and additives. The wider group develops liquid, radiation-cured and powder coating resins along with adhesives, sealants and specialty coatings used across industries such as construction, transportation, marine and general manufacturing. Its Companies House registration lists manufacture of plastics in primary forms as its nature of business. As part of the Allnex group, the UK company operates within a network that includes manufacturing sites and research centres worldwide, supplying formulation solutions to industrial customers rather than trading directly with consumers.
Generated from the company's website and Companies House records. Sources: allnex.com · allnex.com