EASI-DRIVE LIMITED
Company number: 03795593
Reporting period:
1 April 2019 to 30 September 2019
Report filed on:
6 January 2020
Approved by:
Ken McPherson
Payment statistics
Average time taken to pay invoices: 16 days
Invoices paid:
- within 30 days: 76%
- in 31 to 60 days: 21%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Supplier invoices are paid according to the terms of the supplier, generally this is for payment within 30 days of invoice date subject to satisfactory approval (Prices, Quantity and Delivery). Some negotiated contracts provide for extended payment terms to 60 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
60 days
The type of supply may dictate shorter payment terms, labour only services are frequently paid within 1 week
Any other information about payment terms
No further comment provided
Dispute resolution process
In the event that an invoice cannot be accepted as presented the appropriate budget holder will query directly with the supplier and seek resolution
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