T. J. MORRIS LIMITED
Company number: 01505036
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 11 March 2021
and approved by Graeme McLoughlin
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 17%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 8 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
30 days
Standard payment terms
T.J. Morris Ltd standard payment terms are to pay correct invoices within 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
T.J. Morris Ltd’s policy is to pay all correct supplier invoices on time and in accordance with the agreed terms. Non-queried elements of queried invoices paid to terms.
Late payment or part payment of invoices are normally consequence of any invoice or purchase order discrepancies.
Queries raised by supplier are dealt with through the finance team and buyer, who will work with the supplier to resolve any queries.
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