ROCKLINE INDUSTRIES LIMITED
Company number: 03025769
Reporting period:
1 July 2017 to 31 December 2017
Report filed on:
2 February 2018
Approved by:
Simon Ellis
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 34%
- in 31 to 60 days: 51%
- in 61 days or more: 15%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 45%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Shortest 30 days DOI, Longest 60 days EOM Following
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Supplier raises query with Accounts Payable, Accounts payable hands over query to the person who ordered the goods/service to work with supplier on resolving the query. They will review contracts, PO's and any other pertinent documents to work through to a resolution. Once this agreed by both parties approved signed invoices will be given to Accounts Payable to make a payment to the supplier. Our payment runs are conducted once a week to ensure suppliers are paid as promptly as possible.
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