SELWOOD LTD
Company number: 00494547
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
21 July 2021
Approved by:
Nigel Apps
Payment statistics
Average time taken to pay invoices: 58 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 53%
- in 61 days or more: 25%
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
45 days
Longest standard payment period
60 days
Standard payment terms
The company has standard payment terms falling the month end occurring immediately after 60 days from the date of invoice, unless otherwise agreed. Payment delays occur if the invoice is received after processing of the weekly supplier payment run. Disputed invoices result in payment delays.
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
60 days
N/a
Any other information about payment terms
N/a
Dispute resolution process
Suppliers are advised to contact the relevant Selwood branch personnel for all invoice and payment disputes. If the query cannot be resolved this will either be escalated to the accounts payable team or senior management for further action.
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