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EDINBURGH WOOLLEN MILL LIMITED (THE)

Company number: SC024081

Reporting period:
1 September 2018 to 28 February 2019

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

This report was filed on 8 May 2019

and approved by Robert Neil Edmonds

Payment statistics

Average time taken to pay invoices: 66 days

Invoices paid:

• within 30 days: 11%
• in 31 to 60 days: 37%
• in 61 days or more: 52%

Invoices due but not paid within agreed terms: 18 %

Payment terms

Shortest standard payment period

68 days

Longest standard payment period

130 days

Standard payment terms

Standard terms of payment for goods for resale is 130 days, although there are variants to this, other contracts for goods and services not for re-sale vary from 30 days to 90 days.

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

No

Maximum contractual payment period agreed

130 days

Any other information about payment terms

N/A

Dispute resolution process

Overdue - Suppliers contacts AP Department by email or telephone. Missing invoices emailed to expedite resolution. Invoice paid on 1st weekly payment run after approval.


Disputed - Respective supplier and customer relationship managers put in direct contact to agree reason for dispute and mutually agreeable 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 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.

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