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FERRYBRIDGE MFE LIMITED

Company number: 07712297

Reporting period:
1 April 2019 to 30 September 2019


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

This report was filed on 28 October 2019

and approved by Mark Hayward

Payment statistics

Average time taken to pay invoices: 18 days

Invoices paid:

  • within 30 days: 98%
  • in 31 to 60 days: 2%

Invoices due but not paid within agreed terms: 0%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

60 days

Standard payment terms

Our standard payment terms are 30 days from the 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

60 days

If a valid invoice is received promptly at the correct address, quoting a valid purchase order it will be included within one of our payment runs, which are carried out weekly to ensure the invoice is paid on or before the invoice due date.

Any other information about payment terms

N/A

Dispute resolution process

At Ferrybridge MFE Limited we try to resolve any invoice disputes or queries as quickly as possible. Queries regarding the status of an invoice can be directed to the Accounts Payable Team via the following email address; accountspayable@multifuelenergy.com For specific contractual disputes please contact the individual who initially ordered the goods or services provided. The agreed contractual dispute process will then be followed.

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