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J.R. RIX & SONS LIMITED

Company number: 00577587

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 30 July 2019

and approved by David Evans

Payment statistics

Average time taken to pay invoices: 33 days

Invoices paid:

• within 30 days: 53%
• in 31 to 60 days: 45%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 2 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

60 days

Standard payment terms

Terms vary with suppliers according to the product or service supplied
Standard terms remain unaltered being the end of month following the date of the supplier invoice
(30-60 days from receipt of invoice )

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

Any queries should in the first instance directed to
the purchase accounts section who will in turn direct
it to the individual or department responsible for
authorising payment
If necessary the dispute will be escalated to senior management with the intention of resolving the matter in a timely manner

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