JDR CABLE SYSTEMS LIMITED
Company number: SC186794
Reporting period:
1 January 2019 to
30 June 2019
This report was filed on 31 July 2019
and approved by Mr Jaroslaw Romanowski
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 48%
- in 31 to 60 days: 44%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 97%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Payment terms are negotiated commercially on a supplier by supplier basis. Our most common are "30 days from end of month 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
75 days
The above represents "60 days from end of month of invoice" which averages out to 75 days. This is agreed with a very small number of suppliers.
Any other information about payment terms
Our largest supplier, included in all the above statistics, is a Related Party, and we are not held strictly to terms on those invoices, which contributes to the proportion paid late as shown above. Additionally, it is noted that a large proportion of the late invoices are paid only very slightly late, by a matter of 2-5 days, when bank processing times are included as they are in these calculations.
Dispute resolution process
Concerns from a supplier about payment terms will be raised in the first instance with the Procurement team member who manages that relationship. Subsequent involvement may be required from the finance team.
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