A.J. MORRISROE & SONS LIMITED

Company number: 01300615

Reporting period:
1 November 2017 to 30 April 2018

This information is as reported by the business, and responses are in their own words.

This report was filed on 15 May 2018

and approved by GERARD MARAPAO

Payment statistics

Average time taken to pay invoices: 38 days

Invoices paid:

within 30 days: 11%
in 31 to 60 days: 63%
in 61 days or more: 26%

Invoices due but not paid within agreed terms: 8%

Payment terms

Shortest standard payment periods

45 days

Longest standard payment period

Answer not provided

Standard payment terms

Invoices are paid within 15 days of the end of the next month following invoice date.

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

45 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Where invoices are held suppliers are informed of circumstances eg missing signed delivery notes, prices queries etc by e-mail. Subject to resolution payments are released. Where disputes remain unresolved it will be escalated to the Finance Director for mediation and a final decision.

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.

Yes, this business has signed up to: PROMPT PAYMENT CODE

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.

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.

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?