R.J. MCLEOD (CONTRACTORS) LIMITED
Company number: SC028565
Reporting period:
1 May 2020
to 31 October 2020
This report was filed on 1 December 2020
and approved by N M Judd
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 50%
- in 31 to 60 days: 45%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 28 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
75 days
Standard payment terms
We aim to pay in accordance with suppliers’ terms for general goods and services.
The standard length of time for payment of invoices is 30 days from end of month of invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
75 days
Only applies where suppliers’ terms are 60 days from end of month of invoice date.
Any other information about payment terms
The standard contractual length of time for payment in construction contracts is 35 days from submission of valuation, but this is reduced to between 7 and 14 days for smaller labour only subcontractors.
Dispute resolution process
We aim to resolve disputes at a local level.
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.
Yes
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