ADAMS-MOREY LIMITED
Company number: 00506189
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
29 January 2020
Approved by:
William Paynton
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 25%
- in 31 to 60 days: 73%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 30%
Payment terms
Shortest standard payment periods
20 days
Longest standard payment period
61 days
Standard payment terms
The majority of suppliers are paid at the end of month following month of invoice. A payment batch is created at the end of each month and will include the majority of suppliers, and the relevant invoices due. Further payment batches are created at the end of each week for suppliers with differing terms, or invoices missed on the monthly payment batch. Supplies of goods from our franchisors are settled by direct debit with the terms dictated by them, these can be from 14days.
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
61 days
61 days represents the maximum payment terms when using our standard payment term of end of month following month of invoice.
Any other information about payment terms
No further comment provided
Dispute resolution process
The supplier would be contacted as soon as possible to advise details of the dispute. We would discuss with the supplier and aim to reach a resolution within 30days.
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