ROMAN ORIGINALS PLC
Company number: 00980843
Reporting period:
29 December 2019 to 27 June 2020
Report filed on:
17 July 2020
Approved by:
Erich Christodoulou
Payment statistics
Average time taken to pay invoices: 44 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 36%
- in 61 days or more: 27%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
Generally speaking, imported finished goods are paid for on delivery at the port, raw materials are on 60 day terms, processing suppliers are on 3 working day terms, overheads are generally on 30 day terms. Rent and rate suppliers are payable in advance on an agreed date.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The Purchase Ledger department ensures good relationships are kept with suppliers. Any complaints or concerns suppliers have are referred to the Purchase Ledger department who will liaise with the supplier via email/ telephone to come to a mutual agreement. Any complaints or concerns are usually actioned the same day, or worst case scenario 48 hours, and aim to be resolved as soon as possible.
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