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E H SMITH (BUILDERS MERCHANTS) LIMITED

Company number: 00800907

Reporting period:
1 July 2023 to 31 December 2023

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This information is as reported by the business, and responses are in their own words.

This report was filed on 3 January 2024

and 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%

Invoices due but not paid within agreed terms: 53 %

Payment terms

Shortest standard payment period

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

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

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 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