Company number: 00031114
1 January 2020
to 30 June 2020
This report was filed on 31 July 2020
and approved by Jenny Hanlon
Average time taken to pay invoices: 44 days
- within 30 days: 30%
- in 31 to 60 days: 55%
- in 61 days or more: 15%
Invoices due but not paid within agreed terms: 18 %
Standard payment period for qualifying contracts
Standard payment terms
Standard payment terms are 30 days following the end of the month of the invoice date.
Were there any changes to the standard payment terms in the reporting period?
Yes – During the Covid-19 pandemic, we worked closely with our suppliers to mutually agree extended payment terms on a case by case basis.
Were suppliers notified or consulted about these changes before they were made?
Yes – We worked collaboratively with our suppliers to extend payment terms during the lockdown period in the UK during Covid-19.
Maximum contractual payment period agreed
Maximum contractual payment terms of 75 days applies to 1 suppliers, totalling 5 invoices in the reporting period
Any other information about payment terms
Dispute resolution process
Adnams plc takes its commercial responsibilities seriously and endeavours to build long term partnerships with suppliers. We aim to treat our suppliers in the same way as we in turn like to be treated by our customers. We therefore strive to resolve invoice queries and disputes within the Standard Payment Period, but where this is not possible will seek to resolve the dispute and make the payment as soon as a resolution has been achieved.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?