BYWATERS (LEYTON) LIMITED
Company number: 00505212
1 October 2019
to 31 March 2020
This report was filed on 28 April 2020
and approved by John Glover
Average time taken to pay invoices: 46 days
- within 30 days: 22%
- in 31 to 60 days: 57%
- in 61 days or more: 21%
Invoices due but not paid within agreed terms: 25 %
Standard payment period for qualifying contracts
Standard payment terms
Our standard contractual length of time for payment of the invoices is 60 days from the date of the invoice. Number of our suppliers have agreed payment terms below 60 days from the invoice date. Those are agreed on individual basis and vary from 7 days to 45 days
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
We work with our suppliers to ensure that disputes are resolved in a timely manner.
Regarding any disputes, suppliers are requested to contact Account Payable via phone on 020 7001 6000 or email firstname.lastname@example.org. Accounts Payable will advise supplier of the next steps of dispute resolution process depending on the nature of the dispute. If dispute is related to the order number then supplier will be asked to contact originator of the order. If issue is related to the delayed payment due to internal approval process then Accounts Payable will manage this matter internally.
Upon dispute resolution, payment for the invoice is arranged accordingly to the agreed with the supplier payment terms
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?