LAWTON TUBE COMPANY LIMITED(THE)
Company number: 00165130
Reporting period:
1 October 2020 to 31 March 2021
Report filed on:
9 June 2021
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%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 5%
Payment terms
Shortest standard payment periods
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
Were suppliers notified or consulted about these changes before they were made?
N/A
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 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