MIDLANDS TRUCK & VAN LIMITED
Company number: 07492514
Reporting period:
1 April 2024 to 30 September 2024
Report filed on:
23 December 2024
Approved by:
Lee Willetts
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 41%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 0%
Payment terms
Shortest standard payment periods
50 days
Longest standard payment period
Answer not provided
Standard payment terms
Generally supplier ask for invoices to be paid at the end of the following month whuch we comply with.
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
65 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers resolve any issues with the head of the department that requested the supply, in the rare occasion that they are not satisfied they could escalate the issue to one of the company directors.
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