GRATTE BROTHERS LIMITED
Company number: 00411138
1 April 2022
to 30 September 2022
This report was filed on 15 December 2022
and approved by Bronwyn Miller
Average time taken to pay invoices: 58 days
- within 30 days: 16%
- in 31 to 60 days: 38%
- in 61 days or more: 45%
Invoices due but not paid within agreed terms: 9 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
The Company operates 2 payment processes:
1. Purchase Order (mainly plant and material)
Payment terms are agreed with suppliers on a case by case basis. The most commonly used terms are 30 days following the end of the month in which the tax point of the suppliers invoice falls, The maximum agreed term is 60 days.
2. Sub-contract orders
There are two main types of sub-contractors
a. Agency Labour
Standard payment terms vary between 7 days and 90 days from the end of the month in which the tax point of the invoice falls. The maximum agreed term is 90 days.
b. Supply & Fix
Standard payment terms and conditions with sub-contractors are agreed at the outset of each contract being placed, The average payment period varies between 30 and 60 days following certification of applications for payment or invoices received from the sub-contractor. The maximum agreed payment term is 60 days.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Over the last twelve months there has been a steady improvement in the timeliness of payments. These were adversely effected in previous periods due to the effect of Covid on staff working arrangements and processes. These new processes are now being refined and this is reflected in this report.
Any other information about payment terms
Dispute resolution process
Queries regarding materials and equipment hire are dealt with by the procurement department for resolution with the supplier through dialogue and emails.
Queries regarding sub-contractor orders are dealt with by the surveyor responsible for the contract with the aim of reaching a resolution within the payment terms. If the dispute cannot be resolved, it is referred to the Supply chain Director for further escalation.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?