JDR CABLE SYSTEMS LIMITED

Company number: SC186794

Reporting period:
1 January 2019 to 30 June 2019

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

This report was filed on 31 July 2019

and approved by Mr Jaroslaw Romanowski

Payment statistics

Average time taken to pay invoices: 34 days

Invoices paid:

within 30 days: 48%
in 31 to 60 days: 44%
in 61 days or more: 8%

Invoices due but not paid within agreed terms: 97%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

Payment terms are negotiated commercially on a supplier by supplier basis. Our most common are "30 days from end of month of invoice".

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

75 days

The above represents "60 days from end of month of invoice" which averages out to 75 days. This is agreed with a very small number of suppliers.

Any other information about payment terms

Our largest supplier, included in all the above statistics, is a Related Party, and we are not held strictly to terms on those invoices, which contributes to the proportion paid late as shown above. Additionally, it is noted that a large proportion of the late invoices are paid only very slightly late, by a matter of 2-5 days, when bank processing times are included as they are in these calculations.

Dispute resolution process

Concerns from a supplier about payment terms will be raised in the first instance with the Procurement team member who manages that relationship. Subsequent involvement may be required from the finance team.

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.

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?