STORY CONTRACTING LIMITED
Company number: 03709861
Reporting period:
1 April 2023 to
30 September 2023
This report was filed on 30 October 2023
and approved by Ed Baker
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 43%
- in 31 to 60 days: 44%
- in 61 days or more: 13%
Invoices due but not paid within agreed terms: 13%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
Answer not provided
Standard payment terms
Purchase Ledger (Suppliers) standard payment terms are 30 days from end of month. Subcontractor Ledger (Subcontractors) standard payment terms are 14 or 28 days depending on Subcontractor type and payless notices.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
Suppliers with framework agreements have 60 days payment terms this is subject to changes if required.
Any other information about payment terms
Story Contracting is very open to revised payment terms for Suppliers as and when is necessary contracts specific or long term requirements.
Dispute resolution process
Purchase Ledger all Supplier invoices are queried and put on a hold code and not paid until resolved. We aim to action a resolution within 4 weeks of receipt of invoice. We have close working relationships with Suppliers to ensure all parties are aware of issues if a payment or credit is delayed. Subcontractor Ledger applications for payments are processed via Subcontractor controller to manage certificates and payless notices.
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, 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.
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