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JAMES JOHNSTON & CO. OF ELGIN LIMITED

Company number: SC022553

Reporting period:
1 January 2018 to 30 June 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 20 July 2018

and approved by Christopher Gaffney

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

• within 30 days: 40%
• in 31 to 60 days: 48%
• in 61 days or more: 12%

Invoices due but not paid within agreed terms: 10 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

180 days

Standard payment terms

The standard payment terms are for invoices to be settled at the end of the month following the month in which the invoice has been submitted (e.g. an invoice that is dated January will be settled at the end of February). In practice, this means that invoices will be settled in between 28 days and 61 days.

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

No

Maximum contractual payment period agreed

180 days

Any other information about payment terms

N/A

Dispute resolution process

Any disputes should be notified to the Accounts Payable team which can be contacted on accountspayable@johnstonsofelgin.com. Any complaints or concerns that are not resolved by the Accounts Payable team in an acceptable timescale can then be escalated to the Group Financial Controller, who the Accounts Payable team report to.

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

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