H.E. SIMM & SON LIMITED
Company number: 00310690
Reporting period:
1 February 2018 to
31 July 2018
This report was filed on 30 August 2018
and approved by Jim Inglis
Payment statistics
Average time taken to pay invoices: 58 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 35%
- in 61 days or more: 43%
Invoices due but not paid within agreed terms: 11%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
H E Simm & Son Limited has negotiated payment terms. Payment terms are agreed with suppliers as part of the contract negotiations. The most commonly used payment terms in the reporting period are 60 days.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
Payment periods are the agreed number of days after the month the invoice or sub-contract application is received
Dispute resolution process
The HE Simm Supply Chain Charter applies to all subcontractors and suppliers working with the company. The company actively seeks to resolve disputes by discussing them with the relevant suppliers and sub-contractors, initially involving the procurement and commercial teams as appropriate and, where necessary, with accounts payable and management. Where it is not possible to reach agreement, the procedure for adjudication and arbitration are included in all sub-contract agreements.
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, 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