NORTHSIDE TRUCK & VAN LIMITED
Company number: SC275307
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
20 September 2019
Approved by:
James Hemingway
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 51%
- in 61 days or more: 18%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 18%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Some suppliers are paid on 30 day terms, the majority of suppliers are paid on 60 day terms. Certain contracts with body shops may mean that the terms are exceeded until the bodywork is complete.
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
60 days
Payment terms are adhered to by specific accounts, normally 60 days with some on 30 days terms. Body shops have flexible payment dates based on when the work is complete and the vehicle is ready for collection. This may result in some accounts being paid after the normal 60 day maximum.
Any other information about payment terms
No further comment provided
Dispute resolution process
Any invoice received without a correct or unrecognisable order number will be placed in query and communicated as such to the supplier. Once the query has been resolved to both parties satisfaction and any correction made by the supplier, the invoice will be passed for payment on the next pay run.
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