CONNECTION FLOORING LIMITED
Company number: 07924240
Reporting period:
1 February 2023 to 31 July 2023
Report filed on:
29 August 2023
Approved by:
Stuart Phillips
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 63%
- in 31 to 60 days: 32%
- in 61 days or more: 5%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
120 days
Standard payment terms
Connection Flooring Ltd does not have standard payment terms but is cognisant of terms defined in individual contracts with suppliers, which may vary. Our standard policy is to initiate payments on a bi-weekly basis following the due date of the invoice. The most common payment terms of invoices paid during the reporting period were 30 days net.
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
115 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The company will endeavour, wherever possible, to resolve any dispute directly with the supplier. In the rare case that this is not possible we would expect to proceed to mediation to resolve the dispute.
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.
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