LEYLAND SDM LIMITED
Company number: 04188642
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
29 January 2020
Approved by:
Jonathan Jennings
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 38%
- in 31 to 60 days: 31%
- in 61 days or more: 31%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 10%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
The vast majority of suppliers are paid end of the month following i.e. purchases are paid at the end of the month following the invoice date. In addition, in the case of a few suppliers, the payment terms are 7 days, 14 days, 30 day and, 90 days from invoice date.
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
Generally there are no disputes with the suppliers.
If there is a problem with an invoice, whether it's a problem with quantities or price, the invoice is returned to the procurement department. A member of the procurement team will then contact the supplier and resolve the difference. Once the problem is resolved, the invoice is then passed for payment and paid.
In a rare case, where a dispute or disagreement cannot be resolved by the Purchase Ledger or Procurement teams, the issue is escalated to the Commercial Manager or Finance Director who will intervene and resolve the issue.
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