LOTHIAN BUSES LIMITED

Company number: SC096849

Reporting period:
1 January 2020 to 30 June 2020

---

This report was filed on 23 July 2020

and approved by John Benson

Payment statistics

Average time taken to pay invoices: 32 days

Invoices paid:

• within 30 days: 56%
• in 31 to 60 days: 40%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 4%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

60 days

Standard payment terms

Standard payment terms are the end of the month following the invoice date. This can range from 31 to 60 days.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Disputes with suppliers are handled by the department manager responsible for ownership of the supply of goods/services, liaising with the procurement manager and the accounts payable team when necessary. On-going disputes will subsequently be referred to the engineering director (responsible for procurement) and the finance director.

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