WATLING JCB LIMITED
Company number: 01245540
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
6 July 2020
Approved by:
jason king
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 49%
- in 61 days or more: 4%
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
0 days
Longest standard payment period
60 days
Standard payment terms
Our standard payment terms are that payment of invoices for goods and services will generally be made by the 20th of the month following the month in which a properly due, correct and complete invoice is received. Other terms may apply by agreement.
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
We endeavour to pay suppliers in a prompt and honest manner while ensuring that invoices received are correct. Accounts payable use a purchase invoice authorisation system whereby the manager responsible is required to promptly authorise invoices relevant to their department. Should there be a query or dispute on an invoice, the supplier is contacted and this is resolved by discussion and agreement and passed on to the accounts payable team for payment.
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.
Yes
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