GERARD MANN LIMITED
Company number: 00660644
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 27 July 2022
and approved by Katie Martin-Hickey
Payment statistics
Average time taken to pay invoices: 70 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 48%
- in 61 days or more: 32%
Invoices due but not paid within agreed terms: 22 %
Payment terms
Shortest standard payment period
3 days
Longest standard payment period
60 days
Standard payment terms
3 days for goods for resale
60 days for goods not for resale
Were there any changes to the standard payment terms in the reporting period?
Yes – Rationalisation of number of types of payment terms used. Average payment days kept broadly the same e.g. End of Month Following now 45 days.
Were suppliers notified or consulted about these changes before they were made?
Yes – Letter sent. Suppliers able to feedback and make changes if the change didn't work for their business.
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Directors / senior representatives to meet within 28 days of notice to resolve the dispute in good faith. If it remains unresolved, the parties will enter into mediation via the Centre for Effective Dispute Reduction
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