GOV.UK
ERIC WRIGHT WATER LIMITED
Company number: 01835168
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 29 January 2024
and approved by Jeremy Hartley
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 38%
- in 31 to 60 days: 57%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 21 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
42 days
Standard payment terms
Purchase ledger payment terms are 30 days end of month, consequently average payment terms for purchase invoices would be expected to be 45 days from the invoice date. In respect of subcontractor payments, these terms are 30 days end of month or 42 days end of month from the date the claim is received. This is as stated in the individual Sub-Contract agreement.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
42 days
42 days end of month would suggest that on average payments would be received within 57 days of claim.
Any other information about payment terms
N/A
Dispute resolution process
Purchase ledger invoices – suppliers should contact the accounts department in relation to queries. Disputes will be resolved with the assistance of personnel ordering the goods or services and invoice processing is subject to completed purchase orders and appropriate receipt or proof of delivery. Queries or disputes in relation to subcontractor payments should be addressed in the first instance to the relevant Quantity Surveyor or to the Subcontract Ledger Clerk within the accounts department. Any unresolved issues thereafter can be referred to the surveying / Commercial Director(s).
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