SCRIVENS LIMITED
Company number: 00377588
Reporting period:
29 October 2018 to 30 April 2019
Report filed on:
31 May 2019
Approved by:
Nicholas Georgevic
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 44%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 58%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Our standard payment terms are 30 days end of month. Therefore a proportion of invoices that have fallen in to the 44% shown for invoices paid in 31 to 60 days will not have been due until after 31 days of receipt of the invoice. In terms of of the percentage of invoices shown as not paid to terms, most of these payments are made at the beginning of each month and are therefore only overdue by 1 or 2 days. Additionally any invoices subject to query with the supplier will have been included in the category of not paid to terms when, in fact, they will be once the query has been resolved. To ensure that we maintain excellent relationships with our suppliers and not disrupt the supply chain we always endeavor to pay suppliers to terms.
Were there any changes to the standard payment terms in the reporting period?
No
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
No further comment provided
Dispute resolution process
Invoices are entered upon receipt and sent to the relevant department manager for approval. Should the department manager find a discrepancy, a query is raised with the supplier. The AP department monitors invoices that have been received but not approved and if necessary contacts the department manager for an update. It is our policy to pay suppliers to terms and therefore a focus is placed on query resolution to ensure that invoices can still be paid on time. The AP department also reconciles statements from suppliers each month to ensure that all invoices have been received.
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 Fair 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