GOV.UK
GRATTE BROTHERS LIMITED
Company number: 00411138
Reporting period:
1 April 2018
to 30 September 2018
This report was filed on 30 October 2018
and approved by NARESH J THAKKER
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 39%
- in 61 days or more: 42%
Invoices due but not paid within agreed terms: 37 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
90 days
Standard payment terms
The company operates two distinct payment processes:-
1. Purchase Order (Mainly materials and plant)
Standard payment terms
Payment terms are agreed with suppliers on a case by case basis. The most commonly used terms are 30 days following the end of the month in which the tax point of the suppliers’ invoice falls.
Maximum payment terms
The maximum payment term is 60 days.
2. Subcontract Orders
There are two main types of subcontractor
1. Agency Labour
Standard payment terms
Standard payment terms vary between 7 days and 60 days from the end of the month in which the tax point of the invoice falls.
Maximum payment term
The maximum agreed payment term is 90 days.
2. Supply & Fix
Standard payment terms
Standard payment terms and conditions with subcontractors are in staged payments. Due dates for these staged payments are agreed at the outset of each contract being placed.
The average payment periods fall between 30 and 60 days following the certification of applications for payment or invoices received from the subcontractor.
Maximum payment term
The maximum agreed payment term is 60 days.
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
The percentage of payments due within the reporting period which were not paid within the agreed payment period include disputed invoices.
Dispute resolution process
Purchase Order
In the first instance payment queries will be raised with the Accounts Manager. Queries for materials and equipment hire will be escalated to the procurement team for resolution through dialogue with the supplier.
Subcontract Orders
In the first instance payment queries will be raised with the Accounts Manager who will refer it to the surveyor responsible for the contract. A dialogue with the subcontractor will then opened with the aim of reaching resolution. If the dispute cannot be resolved, it is referred to the Supply Chain Director.
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