THOMAS SANDERSON LIMITED

Company number: 04626841

Reporting period:
1 January 2019 to 30 June 2019

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This report was filed on 18 October 2019

and approved by Andrew Thomas

Payment statistics

Average time taken to pay invoices: 2 days

Invoices paid:

• within 30 days: 98%
• in 31 to 60 days: 1%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 2%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

Thomas Sanderson Limited does not have standard payment terms; they range from immediate to 60 days. Payment terms are agreed with suppliers as part of contract negotiations. Payment runs are usually on a weekly basis by BACS.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Thomas Sanderson Limited is committed to dealing fairly with all of its supply chain members. Transparency and swift resolution of disputed items are key principles in this process. Disputed items are identified by the Accounts Payable or Procurement department. An enquiry is then raised with the supplier stating the disputed items. If the supplier is at fault, credit is provided and the remainder of the invoice is cleared for payment. If Thomas Sanderson Limited is at fault the error is cleared internally and the invoice is released for payment.

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, 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