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CREDITON DAIRY LIMITED

Company number: 08490730

Reporting period:
5 July 2020 to 2 January 2021

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This information is as reported by the business, and responses are in their own words.

This report was filed on 20 February 2021

and approved by Tim Smiddy

Payment statistics

Average time taken to pay invoices: 35 days

Invoices paid:

• within 30 days: 41%
• in 31 to 60 days: 51%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 62 %

Payment terms

Shortest standard payment period

1 days

Longest standard payment period

90 days

Standard payment terms

Shortest is 1 days (immediate) Average is 30 days end of month (44%) 30 days from date of invoice (38%) One supplier on 90 days

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Its only one supplier, where they invoice us on shipment which, come from China and takes a few weeks to arrive, so roughly equates to our standard terms.

Any other information about payment terms

N/A

Dispute resolution process

If an invoice is disputed for either price or quantity, it is place in dispute and communicated to the supplier. Our policy states it must be communicated to the supplier. The issue is then resolved with the supplier and paid.

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.

No

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