CHANDLERS (FARM EQUIPMENT) LIMITED
Company number: 01683985
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
21 January 2022
Approved by:
Gavin Pell
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 17%
- in 31 to 60 days: 63%
- in 61 days or more: 20%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
62 days
Standard payment terms
Our payment terms are displayed on our purchase order paperwork, for all business.
Our standard payment terms (unless other terms are offered by the supplier as part of their standard terms of supply, EG Prompt - IE shorter, or EG out of season stocking offers - IE Longer) are "Monthly Account" IE End of following month following date of invoice.
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
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
All is business is transacted on the basis of a formal written purchase order. Where business is initially agreed verbally a confirmation written (email or print) purchase order is supplied along with a purchase order number.
In rare instance when an invoice is received from a supplier with discrepancies from the purchase order (either in terms of pricing, or goods/services supplied), this is determined at the point of verification of the invoice versus the order, and dialogue is entered into with the supplier by the appropriate person in our business that originally placed the order.
In this manner the vast majority of discrepancies are resolved prior to the due date for payment of the invoice. In the exceptional circumstances, the issue is escalated to the Managing Director to resolve with the supplier.
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