PREMIER MODULAR LIMITED
Company number: 02487565
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
4 January 2019
Approved by:
Craig Glover
Payment statistics
Average time taken to pay invoices: 60 days
Invoices paid:
- within 30 days: 36%
- in 31 to 60 days: 32%
- in 61 days or more: 32%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 70%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard invoices are settled 60 days following the end of the invoice month. Subcontractors are paid within the terms of the order and vary according to contract negotiations.
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
60 days
We define 60 days end of month as paying in the first week after the due date. Therefore on this basis the number of invoices paid late is 29%
Any other information about payment terms
No further comment provided
Dispute resolution process
Queries are referred to the Procurement Department for invoice queries or the Commercial team for subcontract queries. Premier Modular Limited seeks to resolve issue, without recourse to a legal process but recognises this may be necessary in some cases. The appropriate legal process is set out in the contract or our terms and conditions.
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