GOV.UK
RENROD LIMITED
Company number: 01210595
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 25 July 2019
and approved by odette darnell
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 65%
- in 31 to 60 days: 29%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 32 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
180 days
Standard payment terms
Most Frequent is net monthly. This is the end of the month from month of invoice date for general suppliers. For vehicle supplies this ranges from same day payment as invoice date or up to 180 days from invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
180 days
For vehicle supplies this ranges from same day payment as invoice date or up to 180 days from invoice date dependant if new cars are registered or not within that period. If registered then payment taken by manufacturer. If not sold within 180 days a direct debit is taken by the manufacturer.
Any other information about payment terms
N/A
Dispute resolution process
Reconciliation of supplier statements to our recorded invoices on the system. Request copy invoices by email or telephone if not received.
If any invoice is in dispute this is raised with the supplier by email or telephone. Once resolved payment is made. If not resolved the dispute/complaint is passed to a manager who ordered the goods/services to discuss. Once resolved payment is made, if not, this is escalated to a Director.
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