SEVERFIELD (UK) LIMITED

Company number: 02668795

Reporting period:
1 April 2019 to 30 September 2019

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This report was filed on 30 October 2019

and approved by Jen Magowan

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 37%
• in 31 to 60 days: 54%
• in 61 days or more: 9%

Invoices due but not paid within agreed terms: 21%

Payment terms

Shortest standard payment periods

31 days

Longest standard payment period

59 days

Standard payment terms

The standard payment terms are for payments to be made at the end of the month following date of invoice

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

90 days

The longest terms are for payments to be made at the end of the month, two months after invoice

Any other information about payment terms

Our standard payment terms are for payments to be made at the end of the month following date of invoice. These terms have not changed during the period. Payment terms are agreed with suppliers as part of the supplier approval process, prior to the commencement of business. We endeavour to pay all SMEs within 30 days of receipt of invoice.

Dispute resolution process

We actively resolve queries as quickly as possible. All invoice queries should be addressed to the Accounts Payable team in the first instance

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.

Yes, this business has signed up to: Applied for Prompt Payment Code

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