Ranked in 4 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Sept 2023 - 29 Feb 2024 | 21 May 2024 | 45 | 18% | 66% | 16% | 67% |
| 01 Jul 2019 - 31 Dec 2019 | 24 Feb 2020 | 51 | 23% | 44% | 33% | 58% |
| 01 Jan 2019 - 30 Jun 2019 | 27 Aug 2019 | 45 | 29% | 49% | 22% | 44% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 46 | 29% | 46% | 25% | 62% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 37 | 41% | 47% | 11% | 56% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The vast majority of RMD Kwikform's standard payment terms are 30 days from receipt of invoice, variations to these terms are arranged by mutual agreement with suppliers.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Also included in the figures above are invoices payable to subsidaries that RMD UK share a mutual parent with, however the net balance between RMD UK and its sibling entities more often than not results in a net payable to RMD UK. Therefore these invoices aren't settled to terms. This equates to 0.2% of the 'Payments due in the reporting period which have not been paid within the agreed period' % above being attributable to Inter-company.
Maximum contractual payment period agreed
60
The accounts payable team manage any disputes from suppliers regarding payment. Normally these disputes are settled within the team over the phone, however there is an esculation process whereby the accounts team can forward on any unsettled disputes primarily to the Management Accountant, then Financial Controller and ultimately the Managing Director to resolve.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
RMD Kwikform Limited is a UK company based in Aldridge, West Midlands, incorporated in 1935. Companies House records its business activity as the renting and leasing of construction and civil engineering machinery and equipment. The company has previously traded under several names, including Mills Scaffold Company Limited, GKN Mills Building Services Limited, GKN Kwikform Limited and Kwikform UK Limited, before adopting its current name. It remains an active registered company. No further detail on specific products, projects or corporate group structure is available from the supplied evidence.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk