G.R.WRIGHT & SONS LIMITED
Company number: 00129755
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
11 April 2019
Approved by:
Lorraine Kaye
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 87%
- in 31 to 60 days: 11%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 19%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
45 days
Standard payment terms
We adhere to terms and conditions issued by our suppliers which is on average 30 days. We have made no changes to payment terms in the reporting period.
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoices that are flagged as in dispute are held on our Finance System. A query sheet is raised which details action taken including contact with the supplier. All query sheets are reviewed weekly and actions taken are recorded. Where possible we will obtain written confirmation of status of the query with the supplier, which is attached to the query sheet. Additionally there is a separate segregated review of supplier statements, which are reconciled back to our Finance System. Any missing invoices are requested directly from the supplier.
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