THANET EARTH LIMITED
Company number: 06167025
Reporting period:
29 April 2017 to 28 October 2017
Report filed on:
20 February 2018
Approved by:
Mark Huckstep
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 39%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Thanet Earth Ltd does not have standard payment terms however if a supplier does not provide payment terms we will use a default of 30 days. 47% of suppliers are set up with 30 day terms
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
60 days
3 % of suppliers have terms to pay invoices at the end of the month following issue - dependent on the invoice date the terms are therefore 30 to 60 days. the maximum of 60 days stated relates to these suppliers only.
Any other information about payment terms
No further comment provided
Dispute resolution process
disputes are raised directly with suppliers upon receipt of invoice
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