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JDR CABLE SYSTEMS LIMITED

Company number: SC186794

Reporting period:
1 January 2020 to 30 June 2020

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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 July 2020

and approved by Tomasz Nowak

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

• within 30 days: 31%
• in 31 to 60 days: 42%
• in 61 days or more: 27%

Invoices due but not paid within agreed terms: 88 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

Payment terms are negotiated on a supplier by supplier basis. 30 days from end of month of invoice is the most common.

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

No

Maximum contractual payment period agreed

75 days

75 days represents some suppliers who pay on terms of "60 days from end of month of invoice".

Any other information about payment terms

Our largest supplier, included in all the above statistics, is a related company by common ownership and we are not strictly held to contractual terms on those invoices, which contributes to the delays apparent in our headline statistics.

Dispute resolution process

Concerns about supplier payment terms will be raised in the first instance with the Procurement team member in charge of that relationship. Any discussions will be supported by the finance / payments teams.

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