WERNICK HIRE LIMITED

Company number: 00633778

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 19 July 2024

and approved by John Jaggon

Payment statistics

Average time taken to pay invoices: 61 days

Invoices paid:

• within 30 days: 10%
• in 31 to 60 days: 80%
• in 61 days or more: 10%

Invoices due but not paid within agreed terms: 3%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

90 days

Standard payment terms

Standard payment terms are within 60 days end of month following date of invoice.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

.

Any other information about payment terms

.

Dispute resolution process

Wernick Hire Limited takes a pragmatic approach to resolving disputes with suppliers by following a set resolution/escalation process. Queries are initially dealt with by members of the Accounts Payable and Credit Control teams. If a satisfactory agreement is not reached, it is then passed on to members of the Senior Management team to assist. In the unlikely event that a successful resolution has not been attained by this stage, the matter is then referred to the Executive Management Team for conclusion.

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, 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