EDE & RAVENSCROFT LIMITED
Company number: 00424854
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
21 November 2018
Approved by:
Adrian Trevor Halls
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 23%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 34%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
Below is a list of the most frequently used payment terms.
30 Days. Approximately 50% of the invoices within the reporting period have 30 days terms.
0 Days. Payment terms of 0 days are usually set when suppliers have no payments terms stated on the invoice.
This makes up 9% of the total invoices.
21 Days. Approximately 9% of the invoices within the reporting period have 21 days terms.
14 Days. Approximately 12% of the invoices within the reporting period have 14 days terms.
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
90 days
No further comment provided
Any other information about payment terms
This report shows that 34% of all invoices were paid beyond their agreed payment terms. These invoices were
settled on average only 7 days beyond the agreed terms due to one payment run being made per week.
Dispute resolution process
Supplier is contacted immediately, and every effort is made to resolve any disputes in a prompt manner.
For overdue invoices, immediate investigation into the reasons why supplier invoices have fallen overdue and
take appropriate actions to resolve and make payment if invoice is no longer in dispute.
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