HARLOW AGRICULTURAL MERCHANTS LIMITED
Company number: 01520770
Reporting period:
1 February 2018 to 31 July 2018
Report filed on:
30 August 2018
Approved by:
Melvin Trundle
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 44%
- in 31 to 60 days: 43%
- in 61 days or more: 13%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 67%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
60 days
Standard payment terms
Default payment terms are 30 days from the date of delivery unless specific alternative payment terms are mutually agreed in advance with individual suppliers.
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
300 days
No further comment provided
Any other information about payment terms
Payments by BACS are submitted to our Bank on the due date on a daily basis. Payments by Cheque are processed once a week and are posted in order to be with the supplier on the average due date of invoices payable that particular week.
Dispute resolution process
Invoices received are matched to an approved purchase order. Any discrepancy is reported to the supplier by the Accounts Payable Team or the original purchaser as appropriate for resolution. Any queries from suppliers are investigated by the Accounts Payable Team who work with the relevant purchaser to find a resolution to any issue and then make payment of due invoices at the next available opportunity.
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