LOTHIAN BUSES LIMITED
Company number: SC096849
Reporting period:
1 July 2024 to
31 December 2024
This report was filed on 30 January 2025
and approved by John Benson
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 75%
- in 31 to 60 days: 24%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 1%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms are end of the month following the invoice date. This can range from 31-60 days.
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
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Disputes with suppliers are handled by the department manager responsible for ownership of the supply of goods/services, liaising with the procurement manager and the accounts payable team when necessary. On-going disputes will subsequently be referred to the Engineering Director (responsible for procurement) and the Finance Director.
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