HUNTER BOOT LIMITED
Company number: SC327869
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
21 July 2020
Approved by:
Mark Reed
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 36%
- in 61 days or more: 25%
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: 5%
Payment terms
Shortest standard payment periods
21 days
Longest standard payment period
60 days
Standard payment terms
Hunter Boot Limited has 4 key suppliers of goods for resale for which standard payment terms were 21 days from Invoice date. Two of these vendors now have agreed 35 & 45 day terms respectively. Standard terms for the remainder of our supplier base is 30 days from date of invoice.
Were there any changes to the standard payment terms in the reporting period?
Whilst the standard terms remained 30 days we have agreed extensions and deferrals where possible to support the business during the Covid-19 pandemic.
Were suppliers notified or consulted about these changes before they were made?
We have engaged with a select group of material supplier with regards negotiating extension and deferrals to payment terms.
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Payment issues or disputes of a technical or administrative nature are resolved by the Accounts Payable Manager. Payment issues or disputes of any other nature are passed to the responsible individual in the company who contracted for the goods or services to aid with a resolution. Suppliers were kept regularly informed during the Covid-19 pandemic.
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