PREMIER MODULAR LIMITED

Company number: 02487565

Reporting period:
1 July 2018 to 31 December 2018

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This report was filed on 4 January 2019

and 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%

Invoices due but not paid within agreed terms: 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?

Answer not provided

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

N/A

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 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.

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