WESTMORLAND LIMITED
Company number: 05357857
Reporting period:
28 December 2020 to 27 June 2021
Report filed on:
27 July 2021
Approved by:
NABIL SUBUH
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 19%
- in 61 days or more: 5%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 21%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
105 days
Standard payment terms
Our policy is to comply with standard payment terms requested by our suppliers. Where no terms are specified we apply 30 days. We pay invoices that fall due by weekly payment runs.
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
105 days
Our longest maximum contractual period of 105 days applies to a small number of suppliers and the terms are as required by them under the arrangement in place with the Buying Group who acts for these suppliers. Our next longest standard terms are 60 days.
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoices on dispute go on hold and the finance team, buying team or the relevant budget holder will contact the supplier to resolve the issue. Once resolved teh invocie will go on teh next available weekly payment run. Our objective is to resolve these as quickly as possible.
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