Published reports

CAMMELL LAIRD SHIPREPAIRERS & SHIPBUILDERS LIMITED

Company number: 04211637

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 April 2023 to 30 September 2023

Report filed on:

5 December 2023

Approved by:

Gemma Swift

Payment statistics

Average time taken to pay invoices: 59 days

Invoices paid:

within 30 days: 17%
in 31 to 60 days: 32%
in 61 days or more: 51%

Late and disputed:

total value of payments due in the reporting period which have not been paid within the agreed period: £0
payments due in the reporting period which have not been paid within the agreed period: 29%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

Answer not provided

Standard payment terms

Majority of suppliers have 60 days end of month terms; however we do have some suppliers set up on 45 or 30 days. Cammell Laird operates on an open book basis with many of its customers, and supplier invoices are approved by the end customer via an application for payment process. This monthly application and approval process results in payment terms that average 60 days from the date of a suppliers invoice.

Were there any changes to the standard payment terms in the reporting period?

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

Majority of suppliers have 60 days end of month terms; if an invoice is received at the start of the month, in reality this would mean there are about 90 days to pay

Any other information about payment terms

No further comment provided

Dispute resolution process

Invoices received with no valid PO are returned directly to the supplier under our ‘NO PO, NO Pay’ policy and placed in query. Internal disputes (PO completed, cost queries) are generally forwarded to our Procurement team or the Project manager. Ongoing invoice queries are logged on a central spreadsheet which Procurement and finance both have access.

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.

Yes, this business has signed up to: Prompt Payment Code

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.

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.

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?