CARPET & FLOORING (TRADING) LIMITED
Company number: 10449218
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
9 February 2021
Approved by:
Jamie Roberts
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 27%
- in 31 to 60 days: 47%
- in 61 days or more: 26%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 58%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
90 days
Standard payment terms
A standard payment term does not exist across our supplier base due to the long-standing relationships that we have with our suppliers. The majority of terms are 28th of the month following date of invoice, with a number of suppliers providing settlement discount within their terms which can often shortern the standard terms.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
We aim to resolve all disputes promptly and will normally do so by raising a debit note for any disputed amount to the supplier detailing the query, followed by contacting suppliers directly. The non-disputed part of the invoice is paid within terms. Invoice disputes are first directed through the accounts payable team who will log the issue and contact the supplier to resolve the dispute, with assistance as required from the relevant branch manager.
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