W. & G. HARRISON LIMITED
Company number: 01032929
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
19 July 2019
Approved by:
Paul Harrison
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 18%
- in 31 to 60 days: 58%
- in 61 days or more: 24%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 39%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
We have two standard payment terms, 7 days for contractors (i.e. self employed plumbers, plasterers, decorators, etc), and 30 days end of month for all other supplies.
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
300 days
During the period the Company introduced a new accounting system with automated payment processes. The payment process starts on the Due Date, so there was a higher proportion of payments made after the due date during the reporting period (max delay 5 days).
Amendments have been made to the systems to ensure payments are made more in line with the agreed due date.
Any other information about payment terms
No further comment provided
Dispute resolution process
In the event that an invoice is in dispute then the payment query is referred to the department manager responsible for the contract. If the department manager is not able to reach a resolution, then this will be escalated to the CEO to reach a decision on payment. In the event that the dispute can still not be resolved, then the matter will be passed to arbitration.
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