EDINBURGH WOOLLEN MILL LIMITED (THE)
Company number: SC024081
Reporting period:
1 March 2019 to 31 August 2019
Report filed on:
10 October 2019
Approved by:
John Jackson
Payment statistics
Average time taken to pay invoices: 58 days
Invoices paid:
- within 30 days: 17%
- in 31 to 60 days: 47%
- in 61 days or more: 36%
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
68 days
Longest standard payment period
130 days
Standard payment terms
Standard terms of payment for goods for resale is 130 days, although there are variants to this, other contracts for goods and services not for re-sale vary from 30 days to 90 days.
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
130 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Overdue - Supplier Contacts AP department by email or telephone. Missing invoices emailed to expedite resolution. Invoice paid on 1st weekly payment run after approval.
Disputed- respective supplier and customer relationship managers put in direct contact to agree reason for dispute and mutually agreeable solution.
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.
Yes
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