RALAWISE LIMITED

Company number: 01362849

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 3 July 2024

and approved by Stuart Banks

Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

• within 30 days: 75%
• in 31 to 60 days: 19%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 25%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

We aim to settle all invoices within the agreed standard payment terms, whenever possible. An  increase in  prompt payment discount taken in the period led to the decrease in the average time to pay, this period is now similar to the historical norm. The figure reported for invoices due but not paid within terms includes certain invoices which are not able to be included in a payment run within the agreed terms e.g. invoices received late, invoices where a query needs to be resolved with the supplier etc. These invoices will be scheduled for the next available payment run. The figure for invoices paid within 14 days of the agreed payment date is 95%.

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

N/A

Any other information about payment terms

N/A

Dispute resolution process

All disputes are investigated by the Finance Department and aim is to resolve these promptly in order to allow payment to be made within the standard terms

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