STILL MATERIALS HANDLING LIMITED
Company number: 01463301
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
23 July 2021
Approved by:
Torsten Wiecker
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 36%
- in 61 days or more: 25%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
All new suppliers are set-up with agreed standard payment terms. Standard will vary based on the size and type of supplier and contract.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
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
N/A
Dispute resolution process
We have a direct email address for suppliers - AP.STILL.GB@kiongroup.com Suppliers will contact our accounts payable team, who will aim to answer the question/query directly. If they cannot answer directly, the query will be passed to the relevant business department/purchaser to resolve in a timely manner. Weekly reports are issued for unapproved invoices to the responsible business partner to aid the approvals process.
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, 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