Company number: 06314112
and approved by M P< Grainger
Average time taken to pay invoices: 60 days
Invoices paid:
Invoices due but not paid within agreed terms: 7%
14 days
91 days
The company agrees payment terms with suppliers at the commencement of trading. Standard terms used are 15/30/45/60 days End of Month (EOM). Whilst other terms might be agreed by negotiation the maximum term applied is 60 days EOM. There were no changes to these standard terms in the reporting period.
Answer not provided
N/A
91 days
No further comment provided
N/A
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. The main point of contact for disputes is Accounts Payable team. To resolve a dispute, the supplier is required to provide any missing information or a corrected invoice. If the Accounts Payable team are unable to resolve the dispute, then the issue is then escalated to a project manager / originator of the purchase order who are then responsible for resolving the issue. The Company maintains an electronic purchase invoice query log which is circulated via an automated email from the Accounts Payable team to the assigned person(s) above. The Company reports key performance metrics which capture the number of instances of items that are in query. These are reported on a weekly basis and displayed on the Company's visual management boards within the department.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No