STELRAD LIMITED

Company number: 02263368

Reporting period:
1 July 2019 to 31 December 2019

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This report was filed on 28 January 2020

and approved by George Letham

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

• within 30 days: 35%
• in 31 to 60 days: 46%
• in 61 days or more: 19%

Invoices due but not paid within agreed terms: 7%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

75 days

Standard payment terms

Payment terms range between 30 days from the date of invoice to 60 days end of month (75 days average).

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

75 days

n/a

Any other information about payment terms

n/a

Dispute resolution process

Suppliers may raise disputes by emailing or calling a dedicated email address or telephone number. Our dispute resolution procedure is as follows: Invoices in dispute are placed on hold and then discussed between accounts department, cost centre manager and the supplier. Once resolved they will go on the next available payment run in accordance with payment terms.

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, 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