C.J. LANG & SON LIMITED
Company number: SC017664
Reporting period:
1 May 2017 to 31 October 2017
Report filed on:
6 December 2017
Approved by:
Scott Edward Malcolm
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 62%
- in 31 to 60 days: 32%
- in 61 days or more: 6%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 35%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
293 days
Standard payment terms
The shortest standard period refers to some suppliers that receive rapid payment in order for us to earn payment discount. The mode payment terms are 28 days however we have a large range of credit terms which mirror the not inconsiderable number of suppliers that an organisation this size has. The longest standard payment terms refer only to the various Councils around Scotland who allow payment of Business Rates over a term of up to 10 months Should we require to make changes to our standard payment terms with any supplier then we will write to them giving appropriate notice of any change.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
293 days
99.3% of our invoices during the reporting period had a contractual payment period of less than or equal to 60 days. Only invoices in relation to Business Rates had contractual payment periods in excess of this.
Any other information about payment terms
No further comment provided
Dispute resolution process
Should any dispute arise between the Company and suppliers about payments under qualifying contracts, then initially contact should be made with our Purchase Ledger Supervisor who will investigate and liaise with those responsible for authorising invoices to be processed and thus on for forward payment. If any invoice is in dispute and "on hold" and consequently yet to be authorised, then it is the authoriser's duty to resolve this directly with the supplier and agree a way forward satisfactory to both parties. The Authoriser must advise the outcome to the Purchase Ledger Supervisor.
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 Fair 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.
Yes
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.
Yes
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