RALAWISE LIMITED
Company number: 01362849
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
25 January 2023
Approved by:
Stuart Banks
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 14%
- in 61 days or more: 9%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 25%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
We aim to settle all invoices within the agreed standard payment terms, whenever possible. Where available advantage is taken of early settlement discount explaining why the average time to pay is less than the shortest standard payment period. The figure reported for invoices due but not paid within terms includes certain invoices which are not able to be included in a payment run within the agreed terms e.g. invoices received late, invoices where a query needs to be resolved with the supplier etc. These invoices will be scheduled for the next available payment run. The figure for invoices paid within 14 days of the agreed payment date is 96%.
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
N/A
Any other information about payment terms
N/A
Dispute resolution process
All disputes are investigated by the Finance Department and aim is to resolve these promptly in order to allow payment to be made within the standard terms.
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