TAYLOR,MAXWELL & CO.LIMITED
Company number: 00476749
Reporting period:
1 October 2021 to 31 March 2022
Report filed on:
27 October 2022
Approved by:
Robert Guilfoyle
Payment statistics
Average time taken to pay invoices: 77 days
Invoices paid:
- within 30 days: 4%
- in 31 to 60 days: 69%
- in 61 days or more: 27%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 46%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
At the end of the month following the invoice date month, an average of 45 days
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
60 days
No further comment provided
Any other information about payment terms
Exceptions to the standard payment terms are agreed with suppliers as part of their commercial trading agreement.
Dispute resolution process
The company aims to resolve all queries with supplier invoices as quickly as possible with liaison between the finance, administration and commercial team to achieve this aim. Suppliers are notified of any disputes as soon as they are identified after receipt. Once disputes are resolved invoices are usually included in the next available payment run.
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.
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