OREGON TIMBER FRAME LTD.
Company number: SC181419
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 30 January 2024
and approved by D Borland
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 32%
- in 61 days or more: 15%
Invoices due but not paid within agreed terms: 0 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
90 days
Standard payment terms
Supplier contracts
Payment of the invoice from the Supplier shall be made within 30 days or 60 days of the end of month receipt, as per the suppliers' contracts.
Subcontractor contracts
The payment due date for contracted elements is 14 days from the scheduled cut off date for certified work. Works outwith the contracted elements are due by the end of the month following.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
If a dispute arises between the parties, the parties will attempt, in good faith, to reach a settlement as soon as possible between the Oregon contact and the Supplier contact (who will be authorised to settle such a dispute).
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