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FULLER SMITH & TURNER PLC

Company number: 00241882

Reporting period:
30 September 2018 to 30 March 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 10 October 2019

and approved by Adam Councell

Payment statistics

Average time taken to pay invoices: 56 days

Invoices paid:

• within 30 days: 4%
• in 31 to 60 days: 71%
• in 61 days or more: 25%

Invoices due but not paid within agreed terms: 49 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

30 days following the end of the month of the invoice date

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

The maximum contractual payment terms of 90 days apply only to certain suppliers from outside the European Union.

Any other information about payment terms

Please note during the period we went live with a new ERP system (end of Oct 2018) which significantly impacted the accounts payable department. This is reflective in the payment statistics. The go live issues have now been resolved.
Please note we have used the invoice date as the date the invoice is received due to the issues in the period with processing invoices.

Dispute resolution process

Supplier enquiries regarding payments can be directed to the accounts payable team by email or telephone. We seek to resolve any disputes and make the payment as soon as a resolution has bene achieved. Disputes are handled by the relevant manager within Fuller's responsible for the purchase/order in accordance with any specific agreements that might be in place. If a dispute cannot be resolved it will be escalated to more senior management for consideration.

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