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ERNEST DOE & SONS LIMITED

Company number: 00431173

Reporting period:
1 January 2019 to 30 June 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 26 July 2019

and approved by Colin Doe

Payment statistics

Average time taken to pay invoices: 35 days

Invoices paid:

• within 30 days: 45%
• in 31 to 60 days: 45%
• in 61 days or more: 10%

Invoices due but not paid within agreed terms: 43 %

Payment terms

Shortest standard payment period

3 days

Longest standard payment period

365 days

Standard payment terms

The company's standard payment terms to suppliers are based on supplier terms and the company's monthly BACS run which runs twice a month, mid month and end of month. For example, if due date of the supplier invoice is the 16th of the month it would be picked up for the payment at the end of the month. Our suppliers are advised that Ernest Doe & Sons raises 2 BACS payments monthly. If this accepted, the percentage of invoices considered to be late would be reduced from 43% to 10%.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

365 days

Primary activities of Ernest Does & Sons are sale, distribution and servicing of Agricultural, Construction and Groundcare machinery, with retail/trade parts and hardware sales. Generally speaking majority of supplier payment terms for parts and hardware vary from 30 days from invoice/end month to 60 days. Payment terms for Machinery usually would be longer from 60 days 365 days.

Any other information about payment terms

N/A

Dispute resolution process

Disputes would be resolved between a member of Ernest Doe & Sons Ltd purchasing team or purchase ledger team and their counterpart at the supplier.

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