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H.WESTON & SONS LIMITED

Company number: 00672234

Reporting period:
1 April 2019 to 30 September 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 22 June 2020

and approved by HM Thomas

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 31%
• in 31 to 60 days: 52%
• in 61 days or more: 17%

Invoices due but not paid within agreed terms: 4 %

Payment terms

Standard payment period for qualifying contracts

60 days

Standard payment terms

Standard Payment Terms are 60 days but this is negotiable by the supplier. If the suppliers are small or grant no credit terms then payment is normally made on the next available payment run. Where suppliers offer additional credit terms H Weston & Sons will pay to those terms.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Maximum Contractual Payment period is actually end of month of date of invoice plus 2 months. This is with only 1 supplier. Next longest is 60 days.

Any other information about payment terms

N/A

Dispute resolution process

Should there be a reason why the invoice cannot be paid the authoriser of the invoice would contact the supplier to resolve the issue without too much delay avoiding any reason to affect the status of the supplier account and any payment terms. Once the invoice has been resolved it would then be paid on the next available payment run should it have missed its original payment date.

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