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D.J.SQUIRE & CO.,LIMITED

Company number: 00316151

Reporting period:
1 August 2020 to 31 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 26 February 2021

and approved by Mark Wilson

Payment statistics

Average time taken to pay invoices: 47 days

Invoices paid:

• within 30 days: 28%
• in 31 to 60 days: 46%
• in 61 days or more: 26%

Invoices due but not paid within agreed terms: 30 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

105 days

Standard payment terms

Our default payment terms are 60 days from end of month of invoice but many suppliers are on 20 or 30 days from end of month of invoice.

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

No

Maximum contractual payment period agreed

105 days

Any other information about payment terms

N/A

Dispute resolution process

If there is a query in regards to the invoice received, overcharge/undercharge, the debit note is produced and sent to the supplier.
If the supplier's credit note is received as a result of the debit note sent, the debit note is being reversed and replaced with the supplier's credit note.
If the supplier does not agree with the debit note received, it is advised to contact the accounts department.
Designated PL clerk resolves the issue with either buying department or store and inform supplier.
If the supplier is not satisfied with the result, the issue is then escalated to the purchasing 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.

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