HIGHLAND FUELS LIMITED
Company number: SC032343
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
7 November 2023
Approved by:
Nicholas Clinton
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 12%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
45 days
Standard payment terms
Standard payment terms are as agreed with Suppliers or as per their standard terms and conditions.
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
45 days
The company operates a strict policy of paying suppliers within contractual terms. Instances where invoices are paid out with contractual terms relate to specific queries/disputes which are resolved expediently with Suppliers.
Any other information about payment terms
No further comment provided
Dispute resolution process
Any disputes or complaints in the first instance are generally promptly resolved by the Purchase Ledger Supervisor or the Manager within the company responsible for authorising the invoices in question. On any rare occasions where these are not resolved, they are escalated to the Finance Director or Director with authorising responsibility depending on the nature of the invoice in question. Disputes or complaints are normally resolved within 5 working days.
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