WOODLAND GLOBAL LTD
Company number: 02278005
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
30 January 2025
Approved by:
Christopher Watts
Payment statistics
Average time taken to pay invoices: 11 days
Invoices paid:
- within 30 days: 67%
- in 31 to 60 days: 30%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
The majority of suppliers offer payment terms of 30 days which is in line with industry standards. Shipping lines offer much shorter terms, which are more variable and can be as short as immediate payment.
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If we have a purchase invoice that we do not agree with the rate, price, or type of charge, this is queried by the operations department directly with the supplier. The finance department will chase the operations team to resolve the query before the payment for the invoice becomes due. Once the query is resolved, the invoice is either paid or we receive a credit note.
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