Company number: 00498601
and approved by Rachel Graville
Average time taken to pay invoices: 63 days
Invoices paid:
Invoices due but not paid within agreed terms: 82%
60 days
Answer not provided
William King standard payment terms are end of month 60 days. Variations to these terms are arranged by mutual agreement with suppliers.
Answer not provided
N/A
90 days
No further comment provided
The average payment period for invoices in this period has risen due to the effects of the current ongoing pandemic. Due to the nature of our business, purchase orders for stock (i.e. metal coils) are required to be placed 3 to 4 months in advance. With demand dropping significantly in the past few months the payment of these invoices has been managed/agreed between ourselves and suppliers, so although they appear overdue they have been paid within an agreed time frame.
Payment disputes are handled by the purchase ledger team with support from the invoice contact within the business. This can be escalated up to the Finance Manager and ultimately the Managing Director until the issue is resolved.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No