JDR CABLE SYSTEMS LIMITED
Company number: SC186794
1 July 2022
to 31 December 2022
This report was filed on 18 January 2023
and approved by Tomasz Nowak
Average time taken to pay invoices: 107 days
- within 30 days: 34%
- in 31 to 60 days: 41%
- in 61 days or more: 25%
Invoices due but not paid within agreed terms: 88 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Payment terms are negotiated on a supplier by supplier basis. 30 days from end of month of invoice is the most common.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
75 days represents some suppliers who are paid on terms of "60 days from end of month of invoice".
Any other information about payment terms
Our largest supplier, included in all the above statistics, is a related company by common ownership and we are not strictly held to contractual terms on those invoices,which contributes to the delays apparent in our headline statistics. Removing this related part from the statistics would significantly improve the average days to pay invoices. The company seeks to pay suppliers on time where possible, and 85% of third party supplier invoices have been paid on time or within 30 days of the due date during the reporting period.
Dispute resolution process
Concerns about supplier payment terms will be raised in the first instance with the Procurement team member in charge of that relationship. Any discussions will be supported by the finance / payments teams.
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?