BETA This is a new service – your feedback will help us to improve it.

MCCONECHY'S TYRE SERVICE LIMITED

Company number: SC062229

Reporting period:
1 November 2018 to 30 April 2019

---

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

This report was filed on 10 May 2019

and approved by D Carmichael

Payment statistics

Average time taken to pay invoices: 77 days

Invoices paid:

• within 30 days: 1%
• in 31 to 60 days: 47%
• in 61 days or more: 52%

Invoices due but not paid within agreed terms: 2 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

90 days

Standard payment terms

Standard payment terms are 30 days after the end of month of invoice. Terms of 60 days from end of month of invoice have been agreed with larger suppliers and terms of 90 days from end of month of invoice have been agreed with major strategic suppliers. No changes were made to payment terms during the period ended April 2019

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Suppliers are notified in writing of any disputes by the Purchase Ledger Department who will then liaise with the supplier to ensure that the matter is resolved.

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