DRAPER TOOLS LIMITED
Company number: 00570630
1 September 2017
to 28 February 2018
This report was filed on 31 March 2018
and approved by Peter Denney
Average time taken to pay invoices: 27 days
- within 30 days: 77%
- in 31 to 60 days: 21%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 36 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Standard payment terms for goods and services are 30 days from date of invoice.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Wherever possible, we will attempt to adopt shorter supplier payment terms, if less than 30 days.
Dispute resolution process
Disputes with supplier invoices are generally resolved between the respective accounts departments.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?