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T. J. MORRIS LIMITED

Company number: 01505036

Reporting period:
1 January 2020 to 30 June 2020

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

This report was filed on 14 August 2020

and approved by Graeme McLoughlin

Payment statistics

Average time taken to pay invoices: 24 days

Invoices paid:

• within 30 days: 86%
• in 31 to 60 days: 12%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 9 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

30 days

Standard payment terms

T.J. Morris Ltd standard payment terms is to pay correct invoices within 30 days.

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

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

Dispute resolution process

T.J. Morris Ltd’s policy is to pay all correct supplier invoices on time and in accordance with the agreed terms. Non queried elements of queried invoices paid to terms.
Late payment or part payment of invoices are normally consequence of any invoice or purchase order discrepancies.
Queries raised by supplier are dealt with through the finance team and buyer, who will work with the supplier to resolve any queries.

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