J.BROWNE CONSTRUCTION COMPANY LIMITED
Company number: 01000440
Reporting period:
1 April 2023
to 30 September 2023
This report was filed on 27 October 2023
and approved by Michael Tarr
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 36%
- in 31 to 60 days: 55%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 49 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
Payment terms are agreed with suppliers as part of the contract negotiations. The most frequently used terms are 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
The company aims to resolve disputes through effective dialogue with the relevant suppliers. The procurement and commercial teams try to resolve disputes at the earliest possible opportunity. Where it is not possible to reach agreement a number of potential dispute resolution methods may be used e.g. mediation, adjudication, litigation, expert determination.
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.
Yes
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