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R.D.TRADING LIMITED

Company number: 02699427

Reporting period:
1 January 2019 to 30 June 2019

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

This report was filed on 9 July 2019

and approved by Horst Schwanke

Payment statistics

Average time taken to pay invoices: 26 days

Invoices paid:

• within 30 days: 56%
• in 31 to 60 days: 40%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 1 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

RD Trading uses a standard 30 day payment term unless otherwise agreed with the supplier.

For our Stock suppliers, the agreed terms are for immediate payment for the goods on the same day when value and quantity are agreed and signed on a purchase by purchase basis.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

Issues are initially handled by the accounts payable team and the respective manager who oversees the area for the related cost. Telephone calls between RD Trading and the supplier followed by emails are used to identify and confirm the situation and an agreed course action. If the issue persists and remains unresolved, it is escalated to senior management.

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