HOWDEN JOINERY LIMITED
Company number: 00526923
Reporting period:
31 December 2017 to 30 June 2018
Report filed on:
27 July 2018
Approved by:
Theresa Keating
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 18%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
62 days
Standard payment terms
We have a range of standard payment terms that vary by supplier. These range from invoices that are due immediately to invoices being due 62 days after receipt of invoice. We do not have daily payment runs but our suppliers on immediate terms are paid on the first available payment run once their invoices have gone through the relevant approval process.
Were there any changes to the standard payment terms in the reporting period?
Standard payment terms for one supplier were reduced from a 100 day payment period to a 60 day payment period
Were suppliers notified or consulted about these changes before they were made?
The changes were made as part of a wider account management conversation with the supplier
Maximum contractual payment period agreed
122 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. The nature of the query is identified and the Accounts Payable team work closely with the buyer, orderer or supplier to resolve queries as quickly as possible. Reporting of overdue payments is a key management control which is reviewed regularly by senior management.
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