PREMDOR CROSBY LIMITED
Company number: 03227274
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 21 August 2023
and approved by Gary Vaughton
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 4%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 39 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
EOM + 30 days
EOM + 90 days
Were there any changes to the standard payment terms in the reporting period?
Yes – Standard payment terms were changed to 90 days from document date
Were suppliers notified or consulted about these changes before they were made?
Yes – Suppliers were contacted by email and letter. This was then followed up with telephone calls and, where appropriate, new contacts were issued and signed by both parties
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
The invoice is placed in query and given to the originator of the order to contact the supplier for resolution. Usually try to resolve within the month before payment falls due
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