HY-TEN GROUP LIMITED
Company number: 00862342
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
30 January 2019
Approved by:
Michael Shattock
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 57%
- in 31 to 60 days: 39%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
90 days
Standard payment terms
Our most common payment term is within 30 days of the end of the month following the month of the invoice- "monthly account".
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
90 days refers only to raw material (steel) deliveries, generally 60.
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers are notified immediately of discrepancies from our order via telephone, confirmed by email. Typically these will comprise price queries, short deliveries and quality problems. Prompt action avoids the escalation into a dispute. Each Branch Manager or Director will be involved at an early stage. Payment is made in the next payment run following the agreed resolution.
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 Fair 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.
Yes
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.
Yes
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