RWG (REPAIR & OVERHAULS) LIMITED
Company number: SC120673
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
16 January 2024
Approved by:
Grant Angus
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 63%
- in 61 days or more: 5%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
The price specified in this Order shall remain fixed. Invoices shall be posted to the Accounts Payable Department of RWG at the address indicated on the front of the Purchase Order on the day on which Goods are despatched or Work is completed. Invoices must quote RWG’s Purchase Order Number, itemised prices and discount terms, invoices which do not quote the Purchase Order Number will be returned. Payment of Suppliers invoice will be in the Suppliers bank account on the last working day of the month following the month of the invoice date, providing that such Goods or Work have been supplied in accordance with Clause 1 and the invoice is correct.
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
The company’s Accounts Payable (AP) team can be contacted for payment enquiries, contact points via phone/email with all relevant contact details noted on the purchase order. If the AP team cannot resolve the dispute, Clause 19 of the terms and conditions in our PO (shown below) would apply. Clause 19 - Dispute Resolution 19.1 Any dispute between the parties arising from the Contract that cannot be settled amicably through negotiations between the appropriate representatives of the parties shall be resolved by referring the dispute to the respective Managing Directors or Chief Executive Officers of the parties (or their respective nominees). 19.2 If no agreement can be reached between the parties under Clause 19.1 above, the parties may attempt to settle the dispute by a form of alternative dispute resolution to be agreed between the parties. 19.3 In the absence of any agreement being reached on a particular dispute either party may, subject to Clause 19.4 take appropriate action in the courts of Scotland to resolve the dispute at any time. 19.4 It shall be a condition precedent to the referral of a dispute to the courts of Scotland under Clause 19.3 that the party which intends to commence proceedings in relation to the dispute first uses its reasonable endeavours to follow and complete the procedures set out in Clause 19.1 19.5 Nothing in this Clause 19 will prevent either party applying for any interdict or other preliminary or interim order for the purpose of protecting its commercial interests where that party, acting reasonably, has justification to seek such preliminary or interim protection.
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