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NORTHERN COMMERCIALS (MIRFIELD) LIMITED

Company number: 01005915

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 Roger Peel

Payment statistics

Average time taken to pay invoices: 38 days

Invoices paid:

• within 30 days: 38%
• in 31 to 60 days: 56%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 45 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

90 days

Standard payment terms

Agreed supplier terms range from immediate settlement to end of month plus 60 days. However the standard term for majority of our suppliers is end of month plus 30 days.

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

No

Maximum contractual payment period agreed

270 days

The maximum contractual payment period relates only to one specific supplier.

Any other information about payment terms

We process three BACS payment runs every month. The credits will reach the supplier bank accounts on or near the 10th, 20th and 30th of every month. Authorised supplier invoices will be paid on the earliest BACS run which fulfils the payment criteria.

Dispute resolution process

A purchase order number is required for all invoices. Department Manager will authorise which are pertinent to their responsibility area. When an invoice is disputed the Department Manager will contact the supplier to discuss the query and resolve the matter.

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