E D & F MAN SUGAR LIMITED
Company number: 00489204
Reporting period:
1 April 2018 to 31 March 2019
Report filed on:
18 July 2019
Approved by:
P MCNOUGHER
Payment statistics
Average time taken to pay invoices: 5 days
Invoices paid:
- within 30 days: 99%
- in 31 to 60 days: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
180 days
Standard payment terms
STANDARD CONTRACTUAL TERMS FOR GOODS AND SERVICES IS VARIED LONGEST STANDARD PAYMENT PERIOD IS: CAD 20 DAYS INV 30 DAYS INV 60 DAYS LETTER OF CREDIT 180 DAYS
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
1825 days
MAXIMUM CONTRACT PAYMENT PERIOD IS MAXIMUM LENGTH OF CONTRACT, UP TO FIVE YEARS
Any other information about payment terms
No further comment provided
Dispute resolution process
THE INVOICE IS PASSED TO THE RESPONSIBLE INDIVIDUAL AUTHORISED TO ACCEPT OR REJECT THE INVOICE. IN THE CASE OF A DISPUTE THE INDIVIDUAL WILL CONTACT THE SUPPLIER TO RAISE THE QUERY. THE SUPPLIER AND THE AUTHORISING PERSON WILL RESOLVE THE DISPUTE; THE DISPUTED INVOICE WILL BE TREATED ON AN ADHOC BASIS AS ITS DEFINED BY THEIR UNDERLYING CONTRACT TERMS. ONCE RESOLUTION IS REACHED THE INVOICE WILL THEN BE CLEARED FOR PAYMENT
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.
Yes, this business has signed up to: SUGAR ASSOCIATION STANDARD OF PAYMENTS
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