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W. H. MALCOLM LIMITED

Company number: SC035770

Reporting period:
2 February 2020 to 1 August 2020

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

This report was filed on 27 August 2021

and approved by Alan Palmer

Payment statistics

Average time taken to pay invoices: 62 days

Invoices paid:

• within 30 days: 13%
• in 31 to 60 days: 41%
• in 61 days or more: 46%

Invoices due but not paid within agreed terms: 12 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

90 days

Standard payment terms

W H Malcolm Ltd standard payment terms are 60 days end of month. Some non-standard payment terms are mutually agreed with individual suppliers and must be approved by senior management.

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

W H Malcolm Ltd is committed to dealing with its suppliers in a fair, honest and professional manner, and where necessary aims to resolve disputes in a timely manner. Payment enquiries are initially handled by our Head Office purchase ledger department. If the matter cannot be resolved by them, queries are then referred to the relevant department head or line manager.

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