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JOHN COTTON GROUP LIMITED

Company number: 00273492

Reporting period:
1 March 2021 to 31 August 2021


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

This report was filed on 20 September 2021

and approved by Nicholas Manning

Payment statistics

Average time taken to pay invoices: 75 days

Invoices paid:

Invoices due but not paid within agreed terms: 22 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

150 days

Standard payment terms

Raw material standard terms are 90 days from month of invoice.
Excluding raw material purchases, the company's normal standard terms of purchase are 60 days from month of invoice.

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

No

Maximum contractual payment period agreed

150 days

Any other information about payment terms

N/A

Dispute resolution process

No formal dispute resolution process. However, any complaints from suppliers are passed to the Company Secretary for resolution.

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