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PEOPLES ECOSSE LIMITED

Company number: SC176576

Reporting period:
1 August 2021 to 31 January 2022

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

This report was filed on 28 February 2022

and approved by Stewart Ramsay

Payment statistics

Average time taken to pay invoices: 41 days

Invoices paid:

• within 30 days: 22%
• in 31 to 60 days: 72%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

330 days

Standard payment terms

Peoples Ecosse Limited operates under 3 separate categories of terms:-
1. Supplier terms of typically 30 days.
2. Our own terms which have been agreed with our suppliers whereby we pay on the last day of the month following invoice date.
3. Vehicle supplier terms up to 330 days following invoice date.

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

No

Maximum contractual payment period agreed

330 days

As above we have a qualifying contract with Ford Motor Company for the purchase of new vehicles, the terms for which are up to 330 days before Direct Debit collection.

Any other information about payment terms

N/A

Dispute resolution process

The only disputes would relate to general ledger invoices not received or not carrying the necessary purchase order details.
These would be resolved through monthly account reconciliations and contact made with the supplier to ensure payment within agreed terms.

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