GOODWIN INTERNATIONAL LIMITED

Company number: 00468115

Reporting period:
1 November 2017 to 30 April 2018

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This report was filed on 30 May 2018

and approved by J W GOODWIN

Payment statistics

Average time taken to pay invoices: 59 days

Invoices paid:

• within 30 days: 9%
• in 31 to 60 days: 66%
• in 61 days or more: 25%

Invoices due but not paid within agreed terms: 78%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

30 days of invoice 60 days of invoice

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

Our standard terms are 60 days but occasionally we are forced to accept 45 or even 30 days. Anything paid over 60 days is almost exclusively due to disputed supplier invoice values.

Any other information about payment terms

We feel the report is missing the point on payments. What matters is not whether an invoice is paid 30, 60 or more days from the invoice date, but whether the payment is 30, 60 or more beyond the agreed payment terms.

Dispute resolution process

Disputes are resolved by active discussion between the operational manager who requests the goods or services and their respective contact at the supplier. Dispute resolution represents the vast majority of invoices which are paid later than 60 days.

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