FERN TRADING GROUP LIMITED
Company number: 06447318
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
27 January 2023
Approved by:
Edward Fellows
Payment statistics
Average time taken to pay invoices: 341 days
Invoices paid:
- in 61 days or more: 100%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 100%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The business payments terms are to comply with the suppliers standard terms, or 30 days if not specified on invoice. The most frequently used term is 30 days. During the period there were no changes to our payment terms. The business does not have different payment terms for small and medium sized companies.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the event of a dispute, the contract manager will liaise with the supplier. All issues will be resolved via the dispute resolution process. The contract manager will aim to resolve any disputes as soon as practically possible.
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