CANTERBURY OF NEW ZEALAND LIMITED
Company number: 06931046
1 July 2021
to 31 December 2021
This report was filed on 7 March 2022
and approved by Andrew M Long
Average time taken to pay invoices: 48 days
- within 30 days: 66%
- in 31 to 60 days: 19%
- in 61 days or more: 15%
Invoices due but not paid within agreed terms: 37 %
Standard payment period for qualifying contracts
Standard payment terms
We usually work to our suppliers' payment terms. In absence of formal terms we will apply 30 days
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
In the event of a dispute, the supplier would contact our AP department or their lead contact in our business. We would determine if a late payment was a result of administrative error, or dispute over the services. Where the late payment was administrative, we would request immediate payment from the AP team. Where there was a clear dispute over performance of the contract, we would agree a remediation/correction plan with our supplier. In the unlikely event that no agreement is reached with the supplier we would involve our internal and/or external legal consultants over any expected litigation action.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?