GOV.UK
I. & H. BROWN LIMITED
Company number: SC040891
Reporting period:
2 March 2020
to 30 August 2020
This report was filed on 30 September 2020
and approved by Scott Brown
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 64%
- in 61 days or more: 27%
Invoices due but not paid within agreed terms: 52 %
Payment terms
Shortest standard payment period
45 days
Longest standard payment period
60 days
Standard payment terms
The Company negotiates and agrees payment terms with its suppliers as one element of its procurement process. As a result, payment terms vary by supplier. The most common payment terms in place are 45 and 60 days from end of month of receipt, although payment terms range from this down to payment on receipt.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
60 days from end of month of receipt
Any other information about payment terms
N/A
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. The main point of contact for disputes is the Accounts Payable team. To resolve a dispute, the supplier is required to provide any missing information or a corrected invoice. If the Accounts Payable team are unable to resolve the dispute, then the issue is then escalated to a project manager or the originator of the purchase order, who is then responsible for resolving the issue. Invoiced items that are subject to dispute will not be paid until resolution of the dispute, whereupon payment shall be made in accordance with this policy.
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