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LAWTON TUBE COMPANY LIMITED(THE)

Company number: 00165130

Reporting period:
1 October 2020 to 31 March 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 9 June 2021

and approved by Simon John Waldron

Payment statistics

Average time taken to pay invoices: 36 days

Invoices paid:

• within 30 days: 36%
• in 31 to 60 days: 59%
• in 61 days or more: 5%

Invoices due but not paid within agreed terms: 5 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

92 days

Standard payment terms

Negotiated from time to time with suppliers

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

No

Maximum contractual payment period agreed

92 days

Individually negotiated with suppliers.

Any other information about payment terms

The Company policy is to pay all suppliers on time. Invoices paid late are in the main down to being received late or subject to queries.

Dispute resolution process

All invoices have to be signed off by Directors or duly authorised Managers. In the first instance the individual Director or Manager responsible will try to resolve any issues but if this is not possible any dispute will be escalated and it becomes the responsibility of the Directors to resolve.

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