BETA This is a new service – your feedback will help us to improve it.

RUSSELL & BROMLEY LIMITED

Company number: 00512958

Reporting period:
1 July 2020 to 31 December 2020

---

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

This report was filed on 5 May 2021

and approved by Andrew Bromley

Payment statistics

Average time taken to pay invoices: 52 days

Invoices paid:

• within 30 days: 42%
• in 31 to 60 days: 34%
• in 61 days or more: 24%

Invoices due but not paid within agreed terms: 71 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

90 days

Standard payment terms

The company agrees terms with each supplier of goods and services separately. It does not apply a single set of standard terms. Previously agreed terms were modified during the period of the pandemic with the support and agreement of our suppliers.

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

Yes – Previously agreed terms were modified during the period of the pandemic with the support and agreement of our suppliers.

Were suppliers notified or consulted about these changes before they were made?

Yes – Suppliers were contacted individually to discuss what support could be agreed for the period of the pandemic.

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Disputes are dealt with by those departments of the business responsible for incurring the expenditure on goods and services.

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