ERITH CONTRACTORS LIMITED

Company number: 01102060

Reporting period:
1 October 2017 to 31 March 2018

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This report was filed on 30 April 2018

and approved by Vicky Stokes

Payment statistics

Average time taken to pay invoices: 60 days

Invoices paid:

• within 30 days: 22%
• in 31 to 60 days: 28%
• in 61 days or more: 50%

Invoices due but not paid within agreed terms: 57%

Payment terms

Shortest standard payment periods

45 days

Longest standard payment period

75 days

Standard payment terms

Most suppliers are paid on terms 45 day End of Month

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

75 days

Maximum contractual payment period is 60 day End of Month i.e. actual net days ranges from 60 to 90.

Any other information about payment terms

N/A

Dispute resolution process

Suppliers raise issue of non-payment to accounts payable, who look into the reason to assess why items have not been paid. If the reason for non-payment is that costs have been disputed by one of our sites we refer the supplier to that site manager for the issue with the disputed charges to be resolved. Payment will only be issued once the site manager has agreed to dismiss the original query or a partial credit for the disputed cost has been received from the supplier.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No, this business has not signed up to a code of conduct or standards on payment practices.

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.

No

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.

No

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?

No

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No