AINSCOUGH CRANE HIRE LTD
Company number: 03245223
Reporting period:
1 October 2022 to 31 March 2023
Report filed on:
21 April 2023
Approved by:
Ian Scapens
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 27%
- in 61 days or more: 34%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 15%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Ainscough Crane Hire Limited implements different payment terms for different types of contracts. The most frequently used payment terms are 60 days; these terms are a requirement for nationally agreed supply contracts. For smaller local suppliers 30 day payment terms are implemented, and suppliers of major components and parts agree to 90 days.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes concerning payments should be addressed to the purchase ledger team by email or telephone. In the first instance the team seek to resolve the dispute directly however where this is not possible relevant members of the Finance and Operational teams will be consulted for further guidance. If the dispute cannot be resolved with managerial advice, the matter will be referred to our commercial team, who will consider seeking external legal advice to reach an agreement with the supplier.
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.
Yes
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