ECOM AGROTRADE LIMITED
Company number: 03576004
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
26 July 2018
Approved by:
Nicolas De Wasseige
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 11%
- in 61 days or more: 8%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
30 days
Standard payment terms
Ecom Agrotrade Limited pays all its suppliers and distributors within 2 weeks of receipt of an undisputed invoice for all overhead payments. Ecom Agrotrade Limited pays all its suppliers in line with the contract terms for all commodity payments. Variations to these standard payment terms are by exception only, and only applied when negotiated and agreed by both parties.
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
30 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
For commodity payments, Ecom Agrotrade Limited aims to resolve disputes in good faith with the counterparty. Failing that, the dispute is brought to arbitration. For overhead payments, Ecom Agrotrade Limited aims to resolve disputes in good faith with the counterparty. Failing that, due legal process is followed.
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