MALTHURST LIMITED

Company number: 03445529

Reporting period:
2 October 2017 to 1 April 2018

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This report was filed on 30 April 2018

and approved by Steve Back

Payment statistics

Average time taken to pay invoices: 17 days

Invoices paid:

• within 30 days: 91%
• in 31 to 60 days: 5%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 14%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

Answer not provided

Standard payment terms

Standard suppliers - last day of the month following the month of the date of the invoice. Fuel supply contracts (most frequently used fuel terms) - 14 days. Other retail products (Lubricants, Ad Blu etc.) - 30 days from the date of invoice. Standard construction contracts - as per JCT 2011 standard terms, save that for interim payments the terms are 28 days from receipt by the company of the appropriate Valuation in respect of the interim payment properly signed off by the Quantity Surveyor. Local authority rates - paid in 10-12 month instalments. Other contracts - 30 days from the date of the invoice.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

For all types of contract, the Accounts Payable department will look into any complaint immediately and will respond to confirm why payment has not been made and when payment can be expected. Disputes are usually resolved within 30 days.

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, 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.

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