ROCKLINE INDUSTRIES LIMITED
Company number: 03025769
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
25 January 2023
Approved by:
Simon Ellis
Payment statistics
Average time taken to pay invoices: 44 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 60%
- in 61 days or more: 14%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 37%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
STANDARD TERMS ARE EOM FOLLOWING DOI
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
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any invoice identified as being in dispute is put on hold and passed to the person in who has raised the purchase order. The supplier's accounts team are notified of the issue and given the buyers name. The buyer will work through the query, and pass the invoice back to finance department once a resolution has been agreed between both parties. The invoice will then be paid in full (or paid in full once a credit note has been received if one is required from the supplier).
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