M.G.F. (TRENCH CONSTRUCTION SYSTEMS) LIMITED
Company number: 01546198
Reporting period:
1 January 2024 to
30 June 2024
!
This information is as reported by the business, and responses are in their own words.
This report was filed on 7 August 2024
and approved by Simon Littlewood
Payment statistics
Average time taken to pay invoices:
51 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 46%
- in 61 days or more: 34%
Invoices due but not paid within agreed terms:
52%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
30 or 60 days from end of month
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
Maximum contractual payment period is 60 days from the end of the month invoiced - therefore a maximum of 90 days from invoice date/date of receipt of invoice
Any other information about payment terms
N/A
Dispute resolution process
Protracted disputes are very rare.
Any complaints/concerns are reviewed and considered by our Accounts, Purchasing and Operations teams and usually resolved by way of email correspondence and telephone calls with our supplier.
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