FREEMANS PUBLIC LIMITED COMPANY
Company number: 00321643
Reporting period:
31 August 2021 to 26 February 2022
Report filed on:
24 March 2022
Approved by:
Mr Richard Hornby
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 48%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 37%
Payment terms
Shortest standard payment periods
21 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms vary depending on type, volume , group/non-group purchases and these are stated in our terms and conditions with our suppliers.
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
n/a
Any other information about payment terms
n/a
Dispute resolution process
Disputes are forwarded to the business unit managers (or person responsible for raising the Purchase Orders). Payments can only be made by Accounts payable when goods/services are receipted on the AP Ledger, thus the onus is on the business unit managers to liaise with suppliers to resolve the disputes on a timely 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 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.
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