TRILAND METALS LIMITED
Company number: 01011637
Reporting period:
1 April 2023 to 30 September 2023
Report filed on:
26 October 2023
Approved by:
Yutaro Kii
Payment statistics
Average time taken to pay invoices: 17 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 11%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 25%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
For non-financial products and services provided by third-parties to Triland Metals Limited (the “Company”), the Company operates pursuant to such third-parties’ terms rather than its own. In general, the Company engages with third-parties pursuant to the following terms: a) a payment period of 30 days from date of invoice; b) payment of interest at a rate set out in the third-party agreement for any late payment; and c) agreement governed by English law and subject to the exclusive jurisdiction of English courts. For non-financial services and products provided by the Company to a third-party, a payment period of 30 days from the date of the invoice is set out on the invoice unless such other payment period is otherwise agreed between the Company and such third-party.
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
46 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
For non-financial products and services provided by third-parties to the Company, the Company operates pursuant to such third-parties’ terms rather than its own. In general, such terms do not set out a distinct procedure for disputes relating to payments. In the instance an invoiced amount needs to be disputed, the Company will make best effort to attempt to resolve the issue by discussion and negotiation with the relevant third-party in the first instance. For non-financial products and services provided by the Company to a third-party, any questions and/or disputes should be raised by such third-party to its relevant contact person at the Company managing their relationship. Any questions and/or disputes will then be escalated internally where necessary. Disputes would generally be governed by English law and be subject to the exclusive jurisdiction of the English courts.
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