SPRINGFIELDS FUELS LIMITED
Company number: 03857770
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
27 July 2022
Approved by:
Richard Easterling
Payment statistics
Average time taken to pay invoices: 59 days
Invoices paid:
- within 30 days: 4%
- in 31 to 60 days: 64%
- in 61 days or more: 32%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 27%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
67 days
Standard payment terms
60 days end of the month plus first thursday following the month in which the invoice is dated, goods received or services performed to satisfaction whichever is the later.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
68 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
For payment queries the suppliers are asked to email the accounts payable department or the suppliers account manager. Matters not resolved immediately with the accounts payable section can be are referred to the Westinghouse procurement team.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
Yes
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