EVEREST LIMITED
Company number: 04566809
Reporting period:
1 June 2019 to 31 December 2019
Report filed on:
31 January 2020
Approved by:
Richard Leighton
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 38%
- in 31 to 60 days: 32%
- in 61 days or more: 30%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 40%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
90 days
Standard payment terms
Our normal terms of trade for our raw materials and mainstream suppliers is end of month plus 60 days although a number of them have negotiated end of month plus 30 days. Our sub-contractors are either end of week plus 7 days for the small sole traders, 21 days for our medium sized sub-contractors and end of month plus 45 days for the large companies such as scaffolding or hire companies.
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
Invoices with either a pricing or goods receipts query go onto a queried invoice register. The appropriate person within the organisation is allocated these invoice queries to resolve. The list of invoices under query is emailed weekly to ensure that queried invoices do not get fi=orgotten about.
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