FUERST DAY LAWSON LIMITED
Company number: 00607374
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
11 January 2024
Approved by:
Mr Charles Coulson
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 24%
- in 61 days or more: 2%
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
0 days
Longest standard payment period
120 days
Standard payment terms
We have 76 payment term variations ranging from Prepayment to 120 days from invoice date. Each payment term is determined by what has been negotiated with the supplier.
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
No further comment provided
Dispute resolution process
Queries are resolved between our AP teams and the suppliers AR counterpart. If there are any escalations, a Finance Manager will advise internally on how to resolve. Final escalation would be advised by Senior Finance Manager to either pursue a legal route or pay invoices to close off.
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