SEASALT LIMITED
Company number: 02259954
Reporting period:
1 February 2024 to 31 July 2024
Report filed on:
14 November 2024
Approved by:
Paul Hayes
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 60%
- in 31 to 60 days: 36%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 26%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Our default payment terms for non stock suppliers is net 30 days, although this is negotiable. Our default payment terms for stock suppliers is bill of landing date +60-90 days. Terms vary by supplier. We make payments weekly and pay in advance of due date.
Were there any changes to the standard payment terms in the reporting period?
Payment terms for stock suppliers were reviewed during the reporting period and the maximum default payment terms increased from 60 to 90 days
Were suppliers notified or consulted about these changes before they were made?
Direct negotiations with suppliers
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If there is a dispute on an invoice payment, the invoice is put on hold and further investigation made. Once a resolution has been agreed the invoice will be paid within the normal payment terms. If resolved after the payment due date then the invoice will be paid on the next weekly payment.
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