RADLEY + CO. LIMITED
Company number: 02573819
Reporting period:
1 May 2017 to 29 October 2017
Report filed on:
6 December 2017
Approved by:
Jayne Worden
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 56%
- in 31 to 60 days: 30%
- in 61 days or more: 14%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 41%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Radley + Co does not have standard payment terms. Payment terms are agreed with suppliers at the outset. The most common payment terms of invoices paid in the period are 30 days for most suppliers and 60 days for overseas import suppliers.
Were there any changes to the standard payment terms in the reporting period?
Overseas imports supplier terms changed from 60-90 days, orders are subject to long lead times.
Were suppliers notified or consulted about these changes before they were made?
The buying team visited the overseas suppliers for negotiations.
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
Radley + Co's overseas suppliers terms are effective from shipment date.
Dispute resolution process
Disputes are resolved by negotiation involving the relevant parties - accounts payable, credit control departments, procurement and sales teams.
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.
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