STEVE HOSKIN CONSTRUCTION LIMITED
Company number: 03096602
Reporting period:
1 April 2022 to 30 September 2022
Report filed on:
28 February 2023
Approved by:
Neil Hoskin
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 20%
Late and disputed:
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
37 days
Standard payment terms
The standard length of time for payment of invoices is generally 30 days but occasionally shorter. However, a large number of suppliers have agreed to delay payment to the 6th of the following month after the normal due date to tie in with payments received from our own customers.
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
37 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Prices and rates are agreed in advance. On the rare occasions that there is a dispute regarding overcharging, the purchase ledger clerk raises it with the company buyer or a director, who contacts the supplier to resolve any issues. All disputes have been successfully resolved and mutually agreed.
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