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SPRINGFIELD PROPERTIES PLC

Company number: SC031286

Reporting period:
1 June 2017 to 30 November 2017

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

This report was filed on 28 February 2018

and approved by Michelle Motion

Payment statistics

Average time taken to pay invoices: 42 days

Invoices paid:

• within 30 days: 27%
• in 31 to 60 days: 44%
• in 61 days or more: 29%

Invoices due but not paid within agreed terms: 22 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

1. The standard contractual length of time for payment is the end of the following month from date of invoice.
2. The standard payment period is 45 days.
3. The maximum contractual payment period is 60 days from the end of the month.

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

No

Maximum contractual payment period agreed

90 days

Payment period is always from the end of the month from the date of invoice.

Any other information about payment terms

N/A

Dispute resolution process

All invoice disputes will be dealt with by the Accounts department and aimed to be resolved prior to payment. If this is not achievable they will be resolved within a maximum of 60 days from date of invoice.

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