E H SMITH (BUILDERS MERCHANTS) LIMITED
Company number: 00800907
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
12 January 2022
Approved by:
Ian Grainger
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 66%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 52%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are 30 days end of month. The nature of our business generates a significant number of invoice queries (price, quantity etc) which can delay settlement and result in payments being made outside of normal credit terms
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
A significant number of purchase invoices are processed through EDI and our systems allow for a level of differences between the purchase orders and the invoice values/quantities. Outside of these ranges invoices are put into query and staff will liaise with the suppliers to resolve the issues in order to resolve the issues and make payment.
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