H.L. HUTCHINSON LIMITED
Company number: 00446633
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
6 January 2021
Approved by:
Gordon McKechnie
Payment statistics
Average time taken to pay invoices: 55 days
Invoices paid:
- within 30 days: 28%
- in 31 to 60 days: 46%
- in 61 days or more: 26%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 50%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Last working day of the month following the date of invoice
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
210 days
There are varying contractual payment terms agreed which are dependent on the product or service supplied
Any other information about payment terms
A regular payment run for invoices for product purchased takes place monthly. Invoices for overheads are paid twice weekly along with product invoices that have fallen due.
Dispute resolution process
A dedicated accounts payable team who can be contacted by telephone or email work closely with suppliers to handle any matters of dispute. All suppliers are advised of the team email address on receipt of the electronic payment remittance advice. Queries when notified are managed in a timely manner.
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