ASHTEAD PLANT HIRE COMPANY LIMITED
Company number: 00444569
Reporting period:
1 November 2019 to
30 April 2020
This report was filed on 29 May 2020
and approved by Philip Parker
Payment statistics
Average time taken to pay invoices: 44 days
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 56%
- in 61 days or more: 21%
Invoices due but not paid within agreed terms: 15%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
90 days
Standard payment terms
The Company negotiates and agrees payment terms with its suppliers as one element of its procurement process. As a result, payment terms vary by supplier. The most common payment term in place is 60 days.
Were there any changes to the standard payment terms in the reporting period?
From 1 December 2019, the company adopted the guidelines set by The Prompt Payment Code in respect of its standard payment terms. As such, the company will now pay all undisputed invoices within 60 days of receipt, as a minimum standard.
Were suppliers notified or consulted about these changes before they were made?
From 1 December 2019, the company reduced its payment terms to 60 days for all suppliers where payment terms were previously in excess of this. Suppliers were notified by letter.
Maximum contractual payment period agreed
90 days
Maximum contractual payment period reduced to 60 days from 1 December 2019.
Any other information about payment terms
N/A
Dispute resolution process
Supplier invoices and payments are managed by the Accounts Payable team at Ashtead Plant Hire Company Limited’s Support Office at 102 Dalton Avenue, Birchwood Park, Birchwood, Warrington, WA3 6YE (tel: 01925 281000). Disputed invoices will be notified to the supplier by the individual who initiated the purchase transaction to ensure that they are investigated in a timely manner and resolved. Invoiced items that are subject to dispute will not be paid until resolution of the dispute, whereupon payment shall be made in accordance with this policy.
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