GRATTE BROTHERS LIMITED

Company number: 00411138

Reporting period:
1 October 2020 to 31 March 2021

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This report was filed on 30 April 2021

and approved by Bronwyn Miller

Payment statistics

Average time taken to pay invoices: 60 days

Invoices paid:

• within 30 days: 15%
• in 31 to 60 days: 37%
• in 61 days or more: 48%

Invoices due but not paid within agreed terms: 10%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

90 days

Standard payment terms

The company operates 2 payment processes: 1. Purchase Order (mainly plant & materials) Payment terms are agreed with suppliers on a case by case basis. The most commonly used terms are 30 days following the end of the month in which the tax point of the suppliers invoice falls. The maximum agreed payment term is 60 days. 2. Sub-contract orders There are two main types of Sub-contractors: a. Agency Labour Standard payment terms vary between 7 days and 90 days from the end of the month in which the tax point of the invoice falls. The maximum agreed payment term is 90 days. b. Supply and fix Standard payment terms and conditions with sub-contractors are agreed at the outset of each contract being placed. The average payment period varies between 30 and 60 days following certification of applications for payment or invoices received from the sub-contractor. The maximum agreed payment term is 60 days.

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

90 days

The current return shows an improvement on the previous return. This is due to the previous return being adversely effected by covid-19 with new procedures being implemented at short notice to enable remote working. These procedures have now been bedded in and refined.

Any other information about payment terms

N/A

Dispute resolution process

Queries regarding materials and equipment hire are dealt with by the procurement department for resolution with the supplier through dialogue and emails. Queries regarding sun-contractor orders are dealt with by the surveyor responsible for the contract with the aim of reaching a resolution within the payment terms. If a dispute cannot be resolved, it is referred to the Supply Chain Director for further escalation.

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