ROCKLINE INDUSTRIES LIMITED

Company number: 03025769

Reporting period:
1 July 2017 to 31 December 2017

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This report was filed on 2 February 2018

and 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%

Invoices due but not paid within agreed terms: 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?

Answer not provided

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

N/A

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 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