SPECIALIST BUILDING PRODUCTS LIMITED
Company number: 01268689
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
27 July 2020
Approved by:
Christopher Empson
Payment statistics
Average time taken to pay invoices: 55 days
Invoices paid:
- within 30 days: 24%
- in 31 to 60 days: 38%
- in 61 days or more: 38%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 51%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
120 days
Standard payment terms
Payment terms are either individually agreed with suppliers or established through custom and practice within our separate business units.
Were there any changes to the standard payment terms in the reporting period?
During the period , March - June 2020, revised payment terms had been agreed with some suppliers due to Covid 19.
Were suppliers notified or consulted about these changes before they were made?
Agreement had been made between suppliers via email and phone by the relevant business unit.
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes are managed through the business unit's finance team and involvement of the person/department that ordered the goods/services as necessary.
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