T&L SUGARS LIMITED
Company number: 07318607
Reporting period:
31 March 2023 to 30 September 2023
Report filed on:
30 October 2023
Approved by:
tarun arora
Payment statistics
Average time taken to pay invoices: 55 days
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 72%
- in 61 days or more: 16%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 6%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are 60 days from the end of the month in which the invoice is received. Other payment terms may be agreed on a case by case basis (typically between 7 and 30 days from invoice receipt).
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
90 days
No further comment provided
Any other information about payment terms
The company's largest single expense item in monetary terms relates to raw cane sugar, which is purchased from suppliers in the developing world. For these purchases, suppliers are paid on the same day as the invoice is raised.
Dispute resolution process
A dedicated Accounts Payable team is available via a centralised telephone number or email address.
Where a dispute relates to the good or service provided under a given contract, the matter is referred back to the relevant department in order to achieve resolution. The company seeks to resolve all disputes as quickly as possible.
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