J.R. RIX & SONS LIMITED
Company number: 00577587
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 28 February 2019
and approved by David Evans
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 51%
- in 31 to 60 days: 45%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 4 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
Terms vary with Suppliers depending on the nature of the product
Our standard payment terms is the end of the month following the date of invoice
( 30-60 days from receipt of invoice )
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
In the first instance any disputes should be directed to the accounts payable section who will in turn direct it
to the department responsible for authorising payment
If necessary the dispute will be escalated to senior management with the aim of resolving the matter in a timely fashion
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.
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