EVERYDAY LENDING LIMITED
Company number: 05850869
Reporting period:
1 January 2023 to 31 December 2023
Report filed on:
19 June 2024
Approved by:
Chris Pearson
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 10%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are 30 days.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If a supplier has a complaint, the finance department will first respond back and say that they have received the email and are looking into the matter so that the supplier knows ELL have received the complaint. Then the finance department will check the ledger to see if the invoice has been processed and whether it is awaiting approval or has been paid - ELL will then respond back to the supplier. If It is not on the ledger, the finance department will check their emails, as they save all the emails per vendor, to see if they sent the document in. If the finance department have not received an email with the invoice attached , they will request a copy of the invoice and also check with the supplier how it was sent to ELL to see whether or not they are using the correct email address for invoices to be processed. The finance department will make sure the issue is resolved within 48 hours.
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