MAINLINE MENSWEAR LIMITED
Company number: 03412005
Reporting period:
30 January 2022
to 30 July 2022
This report was filed on 11 August 2022
and approved by Stuart Hicks
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 11%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 0 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
Usually pay with 10 days to get settlement discount
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
We try to pay up to 60 days to keep on good terms with suppliers
Any other information about payment terms
We only pay the council tax and insurance over 60 days as it is a direct debit over 10 or 12 months
Dispute resolution process
We contact the supplier by phone or e-mail and try to resolve. We don't have many issues
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.
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