IAN WILLIAMS LIMITED
Company number: 00879464
Reporting period:
5 May 2019 to 4 November 2019
Report filed on:
27 January 2020
Approved by:
Mr D Sewell
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 24%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 33%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
40 days
Standard payment terms
Suppliers: 40 days net monthly or reduced terms for Preferred Suppliers by agreement.
Subcontractors: 30 days net monthly (Standard Terms)
14 Days net monthly (Labour Only Subcontractors)
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
40 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Ian Williams actively seeks to resolve disputes by discussing any invoice queries directly with the supplier. A formal request for a credit note is issued if this is required. Our procurement team hold regular meetings with our suppliers to prevent any invoice/price discrepancies. All the prices are agreed and fixed in advance with the supplier and uploaded to our systems. The business also operates a no purchase order, no pay policy. Invoices received which do not quote a valid purchase order number are rejected and returned to the supplier.
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.
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