KNIGHT HARWOOD LIMITED
Company number: 05633442
Reporting period:
1 July 2021
to 31 December 2021
This report was filed on 29 May 2022
and approved by Ian Harwood
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 13%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 1 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
35 days
Standard payment terms
Most supplier invoices are paid within 30 days of the invoice date.
We have 35 days from valuation dates for subcontractors.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
35 days
Any other information about payment terms
N/A
Dispute resolution process
Disputes are resolved between our accounts department and supplier to ensure payments can be processed as soon as possible. Typically the project finance team will be called upon to authorise due payments. Upon resolution payment is made or a credit note should be issued.
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.Yes – Prompt Payment Code
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