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STEVE HOSKIN CONSTRUCTION LIMITED

Company number: 03096602

Reporting period:
1 April 2018 to 30 September 2018

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

This report was filed on 27 June 2019

and approved by S.R. Hoskin

Payment statistics

Average time taken to pay invoices: 29 days

Invoices paid:

• within 30 days: 68%
• in 31 to 60 days: 32%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

37 days

Standard payment terms

The standard length of time for payment of invoices is generally 30 days. However, a large number of regular suppliers have agreed to delay payment to the 6th of the following month after the normal due date to tie in with payments received from our own customers.

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

No

Maximum contractual payment period agreed

37 days

Any other information about payment terms

N/A

Dispute resolution process

Prices and rates are agreed in advance. On rare occasions that there is a dispute about overcharging, the purchase ledger clerk raises it with the company buyer who contacts the supplier to resolve any issues. All disputes have been successfully resolved and mutually agreed.

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.

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