GOV.UK
EVERWARM LTD
Company number: SC390210
Reporting period:
1 October 2018
to 31 March 2019
This report was filed on 26 April 2019
and approved by Michael McMahon
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 44%
- in 61 days or more: 36%
Invoices due but not paid within agreed terms: 69 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
91 days
Standard payment terms
Everwarm Ltd agrees payment terms with suppliers and subcontractors as part of contract negotiations. Payment terms vary from a lower range of 7 days, to 60 days from end of month (i.e. up to a maximum of 91 days as noted above ). Our initial standard terms are 30 days end of month.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
91 days
The statistical information provided includes payments to both purchase ledger and sub-contract suppliers. Subcontractors are paid either weekly, fortnightly or monthly for the valuation of work performed - the valuation stipulated in the sub-contractors "application for payment " is subject to approval from our team of quantity surveyors.
Any other information about payment terms
Everwarm is committed to fair dealing with all of its supply chain members. Payment delays can occur in circumstances where agreement of payment from the end customer is delayed due to issues of rectification or validation of work performed by the supply chain. In those circumstances where we have delayed payments we pay our supply chain partners as soon as is reasonably practical thereafter.
Dispute resolution process
Everwarm actively seeks to resolve disputes by discussing them with the relevant suppliers or subcontractors, involving our Accounts payable team as the first point of contact. The process may then involve commercial teams or senior management. Where it is not possible to reach agreement a number of dispute resolution methods such as mediation, adjudication, litigation and/or arbitration may be used.
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