GOV.UK
FORTERRA BUILDING PRODUCTS LIMITED
Company number: 08960430
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 25 July 2023
and approved by Ben Guyatt
Payment statistics
Average time taken to pay invoices: 60 days
Invoices paid:
- within 30 days: 18%
- in 31 to 60 days: 36%
- in 61 days or more: 46%
Invoices due but not paid within agreed terms: 30 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
Forterra's standard payment terms are 60 days from the end of month of a correct, undisputed and properly due VAT invoice
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Once the payment falls due this will be made on the next payment run.
Payment runs are performed weekly, therefore some payments will be received by the supplier up to a week late due to the cut off for the payment run; this is reflected in the 'Invoices due but not paid within agreed terms' statistic.
Any other information about payment terms
N/A
Dispute resolution process
In the event a dispute with another party Forterra will engage with that party in good faith to establish the full grounds of any such dispute, with a view to reaching settlement as swiftly as possible.
Initial queries are dealt with by our accounts payable department who will then liaise with the appropriate site or department to resolve the query. If resolution is not possible in this way the dispute will be escalated to senior management.
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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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