GLOBAL DRAW LIMITED
Company number: 03565480
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
12 November 2020
Approved by:
Jim Simpson
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 25%
- in 61 days or more: 30%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 13%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
The SG Group's standard contractual length for payments of invoices is 60 Days
Were there any changes to the standard payment terms in the reporting period?
Due to COVID 19 Additional Terms were agreed to conserve Cash
Were suppliers notified or consulted about these changes before they were made?
Agreements made to extend Terms
Maximum contractual payment period agreed
45 days
SG is making its payment run based on two payments runs per month. This could impact on SG's on-time payment % depending on when the invoice is received in the month from the supplier.
Any other information about payment terms
No further comment provided
Dispute resolution process
Supplier payment issues that arise in the first instance are addressed by a dedicated Accounts Payable queries team. Depending on the issue, the Procurement team may be involved to resolve any disputes or issues. Upon resolution payment or credit note is processed.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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