ROCKLINE INDUSTRIES LIMITED

Company number: 03025769

Reporting period:
1 January 2018 to 30 June 2018

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This report was filed on 30 July 2018

and approved by Simon Ellis

Payment statistics

Average time taken to pay invoices: 41 days

Invoices paid:

• within 30 days: 34%
• in 31 to 60 days: 50%
• in 61 days or more: 16%

Invoices due but not paid within agreed terms: 37%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

90 days

Standard payment terms

End of month following the most common payment term.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

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

N/A

Dispute resolution process

Any invoice identified as being in dispute is put on hold and passed to the person in who has raised the purchase order. The supplier account team are notified of the issue and given the buyers name. The buyer will work through the query, and pass the invoice back to finance department once a resolution has been agreed between both parties. The invoice will then be paid in full (or paid in full once a credit note has been received if one is required from 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 Prompt 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