GOV.UK
S.M. BAYNE & COMPANY LIMITED
Company number: SC030423
Reporting period:
29 September 2021
to 28 March 2022
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 21 October 2022
and approved by John Bayne
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 68%
- in 31 to 60 days: 31%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 31 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
31 days
Standard payment terms
30 days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
31 days
Any other information about payment terms
N/A
Dispute resolution process
The supplier should contact the Accounts Payable department to discuss why payment has not been made.
The Accounts Payable department will liaise with the manager who is responsible for authorising the purchase to determine why the purchase has not been authorised for payment.
Either to Accounts Payable department or the manager who authorised the purchase will contact the supplier to discuss a resolution.
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