ARR CRAIB TRANSPORT LIMITED
Company number: SC075026
Reporting period:
1 April 2024 to 30 September 2024
Report filed on:
29 October 2024
Approved by:
David Searle
Payment statistics
Average time taken to pay invoices: 55 days
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 48%
- in 61 days or more: 40%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
31 days
Longest standard payment period
76 days
Standard payment terms
The company operates payment to a set of standard terms. These are end of invoice month plus 45 days, except for fuel and labour related suppliers which are end of month plus 30 days from date of invoice.
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
96 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Claims for any disputed invoices are investigated by the finance department with the supplier to confirm the nature of the query. The invoice is typically placed on hold until the dispute is resolved. If the matter cannot be resolved by the finance department, the manager who placed the order for goods / services will be consulted to resolve the matter with their contact at the 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 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