E H SMITH (BUILDERS MERCHANTS) LIMITED
Company number: 00800907
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
3 January 2024
Approved by:
Ian Grainger
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 25%
- in 31 to 60 days: 64%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 53%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Payment terms are 30 days end of month from the date of invoice such that an invoice dated the 1st of the month will be paid on the last day of the following month therefore average payment terms are circa 45 days.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Purchase invoices in query are logged within our AP system and reported on a weekly basis. Query outside the standard period of 10 days will be escalated to a higher authority for resolution. Often the query is with the supplier (incorrect quantity, price etc) and we cannot control their timetable to respond.
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.
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