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CRUDEN BUILDING & RENEWALS LIMITED

Company number: SC098858

Reporting period:
1 April 2018 to 30 September 2018

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

This report was filed on 29 October 2018

and approved by Karen McFarlane

Payment statistics

Average time taken to pay invoices: 37 days

Invoices paid:

• within 30 days: 34%
• in 31 to 60 days: 58%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 8 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

45 days

Standard payment terms

Purchase ledger (supplier payments) – Our standard payment terms are ‘net monthly’, being payment to the supplier by the end of month following the month of invoice. There were no changes to the standard payment terms in the reporting period. The purchase ledger administers a variety of terms including 7,30 and 45 days.

Sub-contract ledger – Our standard payment terms are 42 days from valuation date. There were no changes to the standard payment terms in the reporting period.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

45 days

Any other information about payment terms

N/A

Dispute resolution process

Purchase ledger (supplier payments) – Complaints or concerns relating to disputes about payments should be directed in writing or email to the Purchase Ledger team at Cruden Campus, 5 Clydesmill Road, Cambuslang, Glasgow G32 8RE. The dispute can be escalated to the Finance Director if required.

Sub-contract ledger – Complaints or concerns relating to disputes about payments should be in the first instance communicated to the Surveying Department in writing or email. If concern/ dispute is unresolved it should be directed in writing or email to the Subcontractor Ledger team at Cruden Campus, 5 Clydesmill Road, Cambuslang, Glasgow G32 8RE. The dispute can be escalated to the Commercial Director or Finance Director if required

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.

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