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HARVEY & THOMPSON LIMITED

Company number: 02636684

Reporting period:
1 July 2018 to 31 December 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 30 January 2019

and approved by Richard Withers

Payment statistics

Average time taken to pay invoices: 33 days

Invoices paid:

• within 30 days: 64%
• in 31 to 60 days: 29%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 26 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

30 days

Standard payment terms

We do not operate standard payment terms. Payment terms and payment method are agreed by individual negotiation with each supplier. Most of the suppliers are on 30 days payment terms.

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

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

Payments to the majority of suppliers are made via weekly BACS payment runs. Some of our suppliers are paid via DD and SO.

Dispute resolution process

All disputes relating to invoice payments should be referred to accounts payable team accountspayable@handt.co.uk.
Disputes should reference invoice number and the amount as it will aid the investigation process. The accounts payable team will liaise internally with the relevant department to resolve any outstanding issues and progress update.

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

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.

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