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KNIGHT HARWOOD LIMITED

Company number: 05633442

Reporting period:
1 January 2023 to 30 June 2023


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

This report was filed on 25 August 2023

and approved by Ian Harwood

Payment statistics

Average time taken to pay invoices: 18 days

Invoices paid:

Invoices due but not paid within agreed terms: 10 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

35 days

Standard payment terms

Suppliers are paid within 30 days and Subcontractors 35 days

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

No

Maximum contractual payment period agreed

35 days

Any other information about payment terms

N/A

Dispute resolution process

Disputes are discussed and resolved between the supplier, our internal finance team and the Project surveyors. Once the dispute is resolved, payments are prioritised to mitigate risk of late payment

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.

Yes – Prompt Payment Code

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