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J.R. RIX & SONS LIMITED

Company number: 00577587

Reporting period:
1 July 2022 to 31 December 2022

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

This report was filed on 22 February 2024

and approved by Robert Wilde

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

• within 30 days: 57%
• in 31 to 60 days: 36%
• in 61 days or more: 7%

Invoices due but not paid within agreed terms: 7 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

60 days

Standard payment terms

Terms with suppliers vary according to the nature of the product or service supplied.
Our standard payment terms for suppliers is the end of the month following date of invoice (30-60 days from receipt of invoice )

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

In the first instance it should be directed to the purchase accounts section who will in turn direct it to
the individual or department responsible for authorising the payment.

If necessary the dispute will be escalated to senior management with the aim of resolving the matter
in a timely manner.

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