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H.I.WELDRICK LIMITED

Company number: 00623420

Reporting period:
1 November 2021 to 30 April 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 27 May 2022

and approved by Christopher Alcock

Payment statistics

Average time taken to pay invoices: 36 days

Invoices paid:

• within 30 days: 62%
• in 31 to 60 days: 24%
• in 61 days or more: 14%

Invoices due but not paid within agreed terms: 18 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

our standard term is to comply with those of our suppliers, the majority of our suppliers are;

30 days from invoice
30 days from the end of the month following
60 days from the end of the month

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

No

Maximum contractual payment period agreed

60 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Invoices which are outstanding from supplier statements - copies are requested from the supplier and passed to the appropriate person/department

If these are in dispute rather than omitted, it is the responsibility of that person/department to contact the suppler or their contact to resolve the issue

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