SINCLAIR GARAGES LIMITED
Company number: 01342890
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
27 July 2018
Approved by:
Andrew J Sinclair
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 56%
- in 31 to 60 days: 25%
- in 61 days or more: 18%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 61%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Unless informed otherwise by our supplier we will pay on 25th of month following date of invoice
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
Invoices are registered on the system by the accounts team and invoice register is checked regularly.
Any non-returns from department managers are noted and chased. When informed of disputes the DMS is logged accordingly.
The departmental manager will deal with their own individual disputes and report back to accounts when resolved.
Accounts will not 'pass register' a document until instructed by the relevant 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