CPI MORTARS LIMITED
Company number: 03291462
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Garrett Wilkinson
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 13%
- in 31 to 60 days: 61%
- in 61 days or more: 26%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 75%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
60 Days End of Month for as many contracts as possible. Many of our Core Raw Materials Suppliers or External Haulage Contracts negotiate to 30 days or 45 days End of Month - Agency Workers Supplies are generally 7 Days from Invoice Date
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
Negotiations with Suppliers Individually
Any other information about payment terms
No further comment provided
Dispute resolution process
All invoices are approved for payment by appropriate personnel. When an invoice is not approved a comment is made on the purchases system to inform the purchase ledger department of issues. Each manager or order originator reverts back to the Supplier to resolve any issues with individual invoices.
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.
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.
Yes
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