Company number: SC390210
and approved by Robert Stirling
Average time taken to pay invoices: 38 days
Invoices paid:
Invoices due but not paid within agreed terms: 38%
7 days
91 days
Everwarm Limited agrees payment terms with suppliers and subcontractors as part of contract negotiations. Payment terms vary up to 60 days from end of month (i.e. up to a maximum of 91 days). Our initial standard terms are 30 days end of month. Note on payment statistics Our four largest suppliers have been calculated based on an agreed invoicing mechanism based on payment terms of 60 days end of month. Under the previous mechanism, for the six months to 30 September 2024, invoices paid in 31 to 60 days would have been 31%, invoices paid in 61 days or more would have been 31% and the average time take to pay invoices would have been 45 days with all other metrics unchanged.
Answer not provided
N/A
91 days
The statistical information provided includes payments to both purchase ledger and sub-contract suppliers. Subcontractors are paid either weekly, fortnightly or monthly for the valuation of work performed - the valuation stipulated in the subcontractor's " application for payment " is subject to approval from our team of quantity surveyors.
Everwarm is committed to fair dealing with all of its supply chain members. Payment delays can occur in circumstances where agreement of payment from the end customer is delayed due to issues of rectification or validation of work performed by the supply chain, queries on pricing, quantities delivered or damaged goods issues. In those circumstances where we have delayed payments we pay our supply chain partners as soon as is reasonably practical thereafter once any queries have been resolved with the supply chain.
Everwarm actively seeks to resolve disputes by discussing them with the relevant suppliers or subcontractors, involving our accounts payable team as the first point of contact. The process may then involve commercial teams or senior management. Where it is not possible to reach agreement a number of dispute resolution methods such as mediation, adjudication, litigation and/or arbitration may be used.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No