HOWDEN JOINERY CORPORATE SERVICES LIMITED
Company number: 01767386
Reporting period:
30 December 2018 to 29 June 2019
Report filed on:
18 July 2019
Approved by:
Theresa Keating
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 63%
- in 31 to 60 days: 33%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 25%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Our standard payment terms are to pay at the end of the month following the invoice date. However, we will accept a range of payment terms that vary by supplier and which range from immediate to end of the month following invoice date.
Invoices with immediate or very short payment terms are often technically overdue by the time we receive them from the suppliers. However, we are willing to accept suppliers on these short payment terms as they work with our payment systems to have the effect of ensuring that these suppliers are paid on the first available payment run once their invoices have gone through the relevant approval process. We have weekly payment runs in order to make this possible.
In the period we had 269 invoices with payment terms which ranged from immediate to 15 days which have technically been paid late but which were included in the earliest weekly payment run rather than waiting for the regular month-end payment run.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. We seek to resolve queries as quickly as possible to everyone's satisfaction prior to payment being made. It is initially established whether an invoice has been received. If this is not the case, a copy invoice is requested and sent for the relevant approval process. In the event that a dispute cannot be resolved by our Accounts team, it would be escalated in the first instance to the relevant Head of Department to seek a resolution.
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.
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