ARNOLD LAVER & COMPANY LIMITED
Company number: 10608445
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 20 July 2018
and approved by Mark Bower
Payment statistics
Average time taken to pay invoices: 72 days
Invoices paid:
- within 30 days: 16%
- in 31 to 60 days: 34%
- in 61 days or more: 50%
Invoices due but not paid within agreed terms: 9 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
89 days
Standard payment terms
Our standard payment terms are 60 days from end of month of delivery. Shorter payment terms are by individual agreement and incorporate rebates/prompt payment discounts. These are summarised below including the % of each payment term.
Standard terms ( 60 days from end of month) 51.18%
07 Days 5.04%
10 Days 0.81%
14 Days 4.55%
20 Days 0.24%
21 Days 0.24%
28 Days 1.06%
30 Days 16.82%
45 Days 0.08%
60 Days 1.06%
By 10th of following month 0.16%
By 15th of following month 0.32%
By 20th of following month 0.97%
By 25th of following month 0.16%
Monthly (30 days from end of month) 17.30%
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
89 days
60 days from end of month of delivery longest period equals 89 days.
Any other information about payment terms
N/A
Dispute resolution process
The accounts team resolve any disputed invoices, if the dispute cannot be resolved this escalates to the Accounts Manager and the Financial Director.
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