JOHN CRANE UK LIMITED
Company number: 00192121
Reporting period:
1 February 2019 to 31 July 2019
Report filed on:
30 August 2019
Approved by:
Adam Powell
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 67%
- in 61 days or more: 21%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 83%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
John Crane UK has varying terms ranging from 0 days (e.g. agency or Rates) to 90 days (Global suppliers) depending on the vendor relationship. The most common terms are net monthly - which equates to approximately 45 days. The vendor relationship including the payment terms are negotiated by the purchasing department
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
90 days
None
Any other information about payment terms
None
Dispute resolution process
No formal written Process - Any invoices which are in dispute are managed between the vendor and credit control. Any disputes are resolved amicably, within the agreed terms with the parties concerned.
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.
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