PEOPLES ECOSSE LIMITED
Company number: SC176576
Reporting period:
1 August 2017 to 31 January 2018
Report filed on:
7 March 2018
Approved by:
Stewart Ramsay
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 66%
- in 61 days or more: 14%
Late and disputed:
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
330 days
Standard payment terms
Peoples Ecosse Limited operates under 3 separate categories of terms :- 1. Supplier terms typically 30 days 2. Our own terms which have been agreed with our suppliers whereby we pay on the last day of the month following invoice date 3. Vehicle supplier terms up to 330 days following invoice date.
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
330 days
As above we have a qualifying contract with Ford Motor Company for the purchase of new motor vehicles the terms for which are up to 330 days before Direct Debit
Any other information about payment terms
No further comment provided
Dispute resolution process
The only disputes would relate to general ledger invoices not received or not carrying the necessary order details. These would be resolved through monthly account reconciliations and contact with the supplier to try to ensure payment within agreed terms.
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