OPENFIELD AGRICULTURE LIMITED
Company number: 03548572
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
26 January 2023
Approved by:
David Anderson
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 14%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
28 days
Standard payment terms
Members are paid on the 14th of the month following movement or on a fixed date for pooled grain
Non members are paid 28 days after the mean date of movement.
Non grain suppliers are paid as per their terms
We have a number of suppliers who require payment same / next day (eg. sea freight)
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
174 days
We also have suppliers who, as standard, offer extended payment terms
Any other information about payment terms
No further comment provided
Dispute resolution process
There is a dedicated purchase ledger department that are the initial contact for disputes.
Any dispute they are not able to resolve will be passed to the relevant person who was involved in the original transaction to resolve.
The purchase ledger team will keep track of outstanding disputes and ensure issues are resolved.
The team have a specific email address for all purchase ledger related communications and individual phone lines
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