GOV.UK
GRAINGER & WORRALL LIMITED
Company number: 00980487
Reporting period:
1 December 2018
to 31 May 2019
This report was filed on 28 June 2019
and approved by M P Grainger
Payment statistics
Average time taken to pay invoices: 62 days
Invoices paid:
- within 30 days: 11%
- in 31 to 60 days: 30%
- in 61 days or more: 59%
Invoices due but not paid within agreed terms: 5 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
91 days
Standard payment terms
The company agrees payment terms with suppliers at the commencement of trading. Standard terms used are 15/30/45/60 days End of Month (EOM). Whilst other terms might be agreed by negotiation the maximum term applied is 60 days EOM.
There were no changes to these standard terms in the reporting period.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
91 days
Any other information about payment terms
N/A
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. The main point of contact for disputes is Accounts Payable team. To resolve a dispute, the supplier is required to provide any missing information or a corrected invoice.
If the Accounts Payable team are unable to resolve the dispute, then the issue is then escalated to a project manager / originator of the purchase order who are then responsible for resolving the issue.
The Company maintains an electronic purchase invoice query log which is circulated via an automated email from the Accounts Payable team to the assigned person(s) above. The Company reports key performance metrics which capture the number of instances of items that are in query. These are reported on a weekly basis and displayed on the Company's visual management boards within the department.
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