RIVERSIDE RESOURCE RECOVERY LIMITED
Company number: 03723386
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
31 January 2023
Approved by:
Ben Butler
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 25%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
The company’s position is to make payments within 60 days of invoice for contracts entered into on the company’s standard terms. The company does sometimes agree to shorter timeframes in contractual negotiations and will then endeavour to pay its suppliers in those agreed timeframes. The shortest payment period is 7 days which applies to payments for insurance and utilities. Minor payment delays may occur if the invoice is received shortly after the company’s payment run and disputes may also result in processing delays.
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Individual employees are responsible for the invoices assigned to them and therefore for managing disputes in the first instance. The company’s position is that disputes over invoices should be resolved swiftly between parties where reasonably possible to enable the business to adhere to the agreed standard payment terms.
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