GOV.UK
S. NORTON & CO LIMITED
Company number: 01859428
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 27 August 2019
and approved by Graham Donohue
Payment statistics
Average time taken to pay invoices: 14 days
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 19%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 5 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
Supplies of metal commodities are paid promptly, either at our weighbridge or on receipt of invoice. Suppliers of other goods and services are generally paid at the end of the month following the month of invoice, although other arrangements can sometimes be accommodated by agreement.
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
S Norton prides itself on the service it provides to suppliers, and sees the speed of payment as a key aspect of its business relationships. When disputes do arise, we aim to address them in a courteous, sensible and professional manner. Our head office administration team are available every weekday to answer calls, identify discrepancies, correct errors, and liaise with the relevant operational staff to ensure that any invoice is dealt with through to a satisfactory conclusion. On the rare occasions when they can't resolve the matter, the dispute will be escalated to senior management for final resolution. All formal complaints are logged by our compliance team based in Liverpool, and these are reviewed regularly by senior managers and directors, to ensure that procedures are followed, and issues addressed.
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