HOTCHKISS LTD
Company number: 00900611
Reporting period:
1 April 2019 to 30 September 2019
Report filed on:
22 November 2019
Approved by:
Christina Amarelle
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 27%
- in 31 to 60 days: 30%
- in 61 days or more: 43%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 8%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
90 days
Standard payment terms
HDL Standard depends on Type of order/contract issued:
14 Days for Labour invoices
30 Days for Standard non contract suppliers
45 Days to 60 Days for contracts works where 60 Days is the most commonly used
90 Days for main stock suppliers
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Hotchkiss Ltd will actively resolve disputes as quickly as possible.
The Purchase Ledger staff act as a liaison between the contracts teams signing off the invoices and the suppliers credit controller. Where disputes are over incorrectly charged amounts on invoices, the invoice is held in query and our purchase ledger staff will review progress and follow up with reminders regularly either internally or externally.
If resolution is not achieved, there is an escalation process in place which will raise the issue to a more senior member of staff.
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