FAIRVIEW ESTATES (HOUSING) LIMITED

Company number: 00769922

Reporting period:
1 January 2019 to 30 June 2019

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This report was filed on 16 July 2019

and approved by R K Williams

Payment statistics

Average time taken to pay invoices: 23 days

Invoices paid:

• within 30 days: 83%
• in 31 to 60 days: 14%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 24%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

60 days

Standard payment terms

The business has standard payment terms for subcontractors and suppliers. The standard payment terms for sub-contractor proformas are within 14 days from the authorised proforma date. The standard payment terms for suppliers/contractors is the last working day of the month (or other such period agreed) immediately following the month in which the supplier submits their invoice for payment.

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

Answer not provided

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 purchase ledger and sub-contract teams in the accounts department. The teams will work with the invoice or proforma approver to resolve any disputes. Disputes are escalated to the Commercial Director as appropriate.

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, 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