HERON BROS. LIMITED
Company number: NI016051
Reporting period:
1 March 2018 to
31 August 2018
This report was filed on 28 September 2018
and approved by Patrick McTaggart
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 64%
- in 31 to 60 days: 28%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 9%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
Subcontract payment terms are agreed as part of individual contract negotiations. Payment terms are generally 30 days from the end of month.
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
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
The company has a dispute resolution policy which involves direct communication between our accounts and surveying department and our suppliers to establish the facts about the dispute. If resolution is not reached it is escalated to the company board for referral to a 3rd party.
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