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E H SMITH (BUILDERS MERCHANTS) LIMITED

Company number: 00800907

Reporting period:
1 July 2021 to 31 December 2021

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

This report was filed on 12 January 2022

and 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%

Invoices due but not paid within agreed terms: 52 %

Payment terms

Standard payment period for qualifying contracts

30 days

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

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

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 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