CRUDEN BUILDING & RENEWALS LIMITED
Company number: SC098858
Reporting period:
1 April 2020 to 30 September 2020
Report filed on:
25 November 2020
Approved by:
Karen McFarlane
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 51%
- in 31 to 60 days: 44%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
45 days
Standard payment terms
Purchase ledger (supplier payments) – Our standard payment terms are ‘net monthly’, being payment to the supplier by the end of month following the month of invoice. There were no changes to the standard payment terms in the reporting period. The purchase ledger administers a variety of terms including 7,30 and 45 days. Sub-contract ledger – Our standard payment terms are 42 days from valuation date. There were no changes to the standard payment terms in the reporting period.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Purchase ledger (supplier payments) – Complaints or concerns relating to disputes about payments should be directed in writing or email to the Purchase Ledger team at Cruden Campus, 5 Clydesmill Road, Cambuslang, Glasgow G32 8RE. The dispute can be escalated to the Finance Director if required. Sub-contract ledger – Complaints or concerns relating to disputes about payments should be in the first instance communicated to the Surveying Department in writing or email. If concern/ dispute is unresolved it should be directed in writing or email to the Subcontractor Ledger team at Cruden Campus, 5 Clydesmill Road, Cambuslang, Glasgow G32 8RE. The dispute can be escalated to the Commercial Director or Finance Director if required.
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