GRAFTON GROUP (UK) PUBLIC LIMITED COMPANY
Company number: 02886378
Reporting period:
1 July 2021
to 31 December 2021
This report was filed on 28 January 2022
and approved by David Arnold
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 13%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 7 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Monthly or upon presentation of the invoice
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
In general we pay within the terms of the invoice. If however, there is a delay, it is ususally because there is a query with the inovice. If there is a query on an individual invoice or a dispute, our employee/contact would deal directly with the supplier in order to resolve same in advance of the invoice being approved for payment and forwarded to our accounts payable department. Any queries are generally resolved quickly and without complaint. Once the query/dispute is resolved, we pay on a prompt basis.
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.
Yes
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