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TILBURY DOUGLAS CONSTRUCTION LIMITED

Company number: 00303359

Reporting period:
1 January 2022 to 30 June 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 22 July 2022

and approved by George Restall

Payment statistics

Average time taken to pay invoices: 34 days

Invoices paid:

• within 30 days: 51%
• in 31 to 60 days: 40%
• in 61 days or more: 9%

Invoices due but not paid within agreed terms: 44 %

Payment terms

Shortest standard payment period

1 days

Longest standard payment period

60 days

Standard payment terms

The majority of our suppliers are on payment terms of between 7 & 60 days

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

Following a Cyber-attack we have recently implemented an new ERP system. This has introduced new processes for the payment of invoices which will drive improvements in payment performance.

Dispute resolution process

Disputes can be sent to the finance team who will seek to resolve the issue and where necessary consult with the procurement and/or site team. In exceptional circumstances the matter may be referred to an executive director to resolve. Where the contract terms and conditions provide, the matter may be addressed through the formal disputes procedure.

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