BLOOR HOMES LIMITED
Company number: 02162561
1 July 2020
to 31 December 2020
This report was filed on 18 February 2021
and approved by DIK Mehta
Average time taken to pay invoices: 38 days
- within 30 days: 29%
- in 31 to 60 days: 61%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 4 %
Standard payment period for qualifying contracts
Standard payment terms
The business has standard terms for all suppliers
The standard payment terms for all suppliers is the last working day of the month (or such period specified in the works instruction) immediately following the month in which the supplier submits their invoice/application for payment.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Initial queries are dealt with by the purchase ledger department. This department will liaise with the invoice approver to ascertain any extenuating circumstances.
Failing this, any disputes will be escalated to the Finance Director.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?