WILLIAM DAVIS LIMITED
Company number: 00468397
Reporting period:
1 December 2018 to 31 May 2019
Report filed on:
18 June 2019
Approved by:
Guy Higgins
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 43%
- in 31 to 60 days: 56%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
The business has standard payment terms for subcontractors and suppliers. Payments are made on the last working day of the month following the one in which the invoice / application is dated. Subcontractors are required to submit applications and suppliers / consultants are required to submit invoices, both within 5 days of the invoice / application date. Standard payments terms may be varied as agreed on the order or on the subcontractors / suppliers/ consultants account.
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
60 days
N/a
Any other information about payment terms
N/a
Dispute resolution process
Initial queries are dealt with by the Accounts Department who will liaise or redirect to the invoice approver for suppliers / consultants and for the subcontractors the job surveyor, to resolve any disputes in a fair and timely manner. (The approver is authorised to settle any disputes) If the dispute cannot be resolved by the approver in accordance with normal procedures and contract terms, this will be escalated to a director.
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.
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