CMBC SUPPLY LIMITED
Company number: 08626420
1 January 2022
to 30 June 2022
This report was filed on 26 July 2022
and approved by Paul Davies
Average time taken to pay invoices: 64 days
- within 30 days: 15%
- in 31 to 60 days: 36%
- in 61 days or more: 49%
Invoices due but not paid within agreed terms: 87 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
93 days or 63 days for SME's
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Standard terms are the longest we offer excluding customers covered on supply chain financing where terms can be longer although suppliers receive payment in 11 days.
Any other information about payment terms
The Company makes external supplier payments twice weekly for all invoices currently due, this results in a proportion of invoices paid later than terms. These should though be paid within 2 working days of the due date. The majority of the Companies transactions are with other Group Companies. This is driving the % not paid within terms.
Dispute resolution process
Is agreed on a contract by contract basis.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?