HYDRASUN LIMITED

Company number: SC059688

Reporting period:
1 October 2021 to 31 March 2022

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This report was filed on 6 May 2022

and approved by G Doherty

Payment statistics

Average time taken to pay invoices: 65 days

Invoices paid:

• within 30 days: 6%
• in 31 to 60 days: 27%
• in 61 days or more: 67%

Invoices due but not paid within agreed terms: 1%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

The company standard payment terms are sixty days from the End of the Month of receipt of a valid invoice, but payment terms vary across the supplier population, with longer payment terms agreed with larger suppliers.

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

90 days

60 days End of Month terms

Any other information about payment terms

N/A

Dispute resolution process

The Company will notify suppliers of any invoice disputes through Accounts Payable or Purchasing teams. Once the dispute is resolved, payment will be made in accordance with 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, 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