HARDING BROTHERS RETAIL LIMITED
Company number: 06126331
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
3 March 2021
Approved by:
James Prescott
Payment statistics
Average time taken to pay invoices: 101 days
Invoices paid:
- within 30 days: 48%
- in 31 to 60 days: 14%
- in 61 days or more: 38%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 60%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
60 days, one key supplier has agreed 90 days
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
90 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Purchase ledger identify any disputes and determine whether its a quantity or price dispute. Disputes are escalated to goods receiving team if quantity related or buying team if price related. Suppliers are contacted where required and are worked with through to resolution. Business trade temporarily ceased in March 2020 due to COVID-19. This has resulted in only business critical payments being made during the period July to December. Communications have been ongoing with suppliers to ensure they are fully informed during this period.
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