LAWTON TUBE COMPANY LIMITED(THE)
Company number: 00165130
Reporting period:
1 October 2017
to 31 March 2018
This report was filed on 11 July 2018
and approved by Simon John Waldron
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 55%
- in 61 days or more: 13%
Invoices due but not paid within agreed terms: 6 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
92 days
Standard payment terms
30 days end of month
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
92 days
For small suppliers we pay 30 days end of month unless otherwise agreed.
For larger suppliers these are negotiated individually.
Any other information about payment terms
N/A
Dispute resolution process
Invoices are signed off by individual departmental managers. All signed off invoices are paid promptly.
When a query arises it is up to the individual account manager to communicate what the issue with the invoice is and to resolve as quickly as possible.
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