GOV.UK
RICHARDSON MILLING (UK) LIMITED
Company number: 01789282
Reporting period:
1 July 2017
to 31 December 2017
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 25 September 2020
and approved by Carl Smith
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 46%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 49 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
The company's standard payment terms vary between 30 and 60 days depending on supplier type. There have been no changes to the payment terms, which have been in place for a significant amount of time. It has therefore not been necessary to consult with or notify suppliers in this regard.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
The company seeks to resolve all disputes in a manner that is fair to all parties where possible
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