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FERN TRADING GROUP LIMITED

Company number: 06447318

Reporting period:
1 January 2023 to 30 June 2023

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This information is as reported by the business, and responses are in their own words.

This report was filed on 1 August 2023

and approved by Sarah Grant

Payment statistics

Average time taken to pay invoices: 3 days

Invoices paid:

• within 30 days: 100%
• in 31 to 60 days: 0%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

The business payments terms are to comply with the suppliers standard terms, or 30 days if not specified on invoice. The most frequently used term is 30 days. During the period there were no changes to our payment terms. The business does not have different payment terms for small and medium sized companies.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

Dispute resolution process

In the event of a dispute, the contract manager will liaise with the supplier. All issues will be resolved via the dispute resolution process. The contract manager will aim to resolve any disputes as soon as practically possible.

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