TOWER CRANE ASSET MANAGEMENT HOLDINGS LIMITED

Company number: 05732617

Reporting period:
1 January 2018 to 30 June 2018

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This report was filed on 23 July 2018

and approved by Andy Brown

Payment statistics

Average time taken to pay invoices: 60 days

Invoices paid:

• within 30 days: 11%
• in 31 to 60 days: 63%
• in 61 days or more: 26%

Invoices due but not paid within agreed terms: 36%

Payment terms

Shortest standard payment periods

45 days

Longest standard payment period

60 days

Standard payment terms

TCAMH standard payment terms are 60 days from end of month for all cleared invoices on production of a monthly statement from the supplier. All invoices must include an order number in order to be processed

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

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Our suppliers have the email and telephone number of the Finance manager who will take any call from any supplier regarding a complaint. In regards to pay queries, if the invoice has been passed for payment but not paid it is usually due to the supplier not sending a statement and therefore, the Finance manager requests a statement and then raises payment for the invoice as soon as this has been recieved. if the invoice is in dispute then the purchase ledger clerk raises the dispute as soon as possible with the supplier and then awaits the response. Once the response is recieved she send this for approval to the relevant department head who either queries the invoice further with the supplier or authorises the invoice for payment.

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