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CROMWELL TOOLS LIMITED

Company number: 00986161

Reporting period:
1 January 2018 to 30 June 2018


Warning This information is as reported by the business, and responses are in their own words.

This report was filed on 26 July 2018

and approved by Ryan Mowinski

Payment statistics

Average time taken to pay invoices: 63 days

Invoices paid:

Invoices due but not paid within agreed terms: 13 %

Payment terms

Shortest standard payment period

60 days

Longest standard payment period

90 days

Standard payment terms

60 Days End of Month

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Queries are sent via email to the internal source of the order for resolve/escalation to the vendor
Reports of outstanding queries are reviewed and chased/escalated by AP team for unresolved queries
Central helpdesk and phones lines in place for vendors to contact with inquiries/payment issues/requests

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