CEREFORM LIMITED
Company number: 00346958
Reporting period:
28 February 2021 to 28 August 2021
Report filed on:
24 September 2021
Approved by:
IAN SMITH
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 44%
- in 31 to 60 days: 50%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms are 60 days DOI. There
were no changes to standard payment terms in
the reporting period
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
60 days
The business updated terms for Suppliers with fewer than 50 Employees to 30 Days in line with the latest PPC guidance.
Any other information about payment terms
The business continues to find ways to enhance it's payment performance such as the introduction of weekly payment runs and continuing to work closely with all Suppliers to improve accuracy of invoicing. This has resulted in further improvement as planned on previous returns. We continue to monitor and report internally on a regular basis.
Dispute resolution process
All disputes must be notified to the email
address: purchaseledger@cereform.com.
Extract from the standard terms issued to all
suppliers upon set up of a purchase order:
If a dispute or difference arises out of these terms
and conditions, without prejudice to any rights
either party may have (including but not limited to
the right to obtain injunctive relief and any right of
the Buyer if it reasonably believes that the Seller
has repudiated the Contract or is in material
breach), either party may request that the parties
attempt to settle it first by negotiation. If the
parties have not settled such dispute within 21
days of the commencement of negotiations the
parties will attempt to settle it by referring the
matter to their respective general manager (or
other relevant senior manager as may be agreed
by the parties) who will attempt to resolve such
dispute.
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