R.TWINING AND COMPANY LIMITED

Standard payment terms

Standard payment terms for suppliers are within 60 days of the invoice. This is stated on all our purchase orders and applied to all suppliers, unless different terms are negotiated. Where suppliers are identified as small, our standard practice is to pay these within 30 days of the invoice, unless shorter terms are negotiated.

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

No information available

Any other information about payment terms

Following the implementation of a new ERP in 2025, we continue to experience some challenges in our payment processes. These are stable and we have in place an improvement plan to enhance our process and capabilities. We expect to see a reduction in the number of invoices not paid with in terms going forward.

Maximum contractual payment period agreed

90

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