W.H.PALMER & CO. consistently pays outside standard 30-day terms, with an average payment time of 47 days. A significant 68% of payments fall into the 31-60 day bracket, indicating a predictable trend towards extended payment cycles rather than prompt settlement.
Despite 68% of payments falling predictably within the 31-60 day range, a high 57% late payment rate indicates significant unreliability. The 10% of payments exceeding 60 days introduces further volatility and elevated risk for suppliers depending on timely cash flow.
Suppliers should anticipate extended payment terms, with payments typically arriving around 47 days and a high likelihood of being late. It is recommended to factor these extended cycles into cash flow projections and consider mitigation strategies such as negotiating tighter payment terms or adjusting pricing for the associated credit risk.
| 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 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 47 | 22% | 68% | 10% | 57% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Invoices are paid at the end of the month following date of invoice
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
Disputes are referred to the manager who authorised the purchase and he/she will negotiate with the supplier before escalating to more senior management where necessary.
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
W.H.PALMER & CO.(INDUSTRIES)LIMITED is an active private limited company. Its name indicates involvement in industrial operations.
The company was incorporated on 19 June 1962 and holds the company number 00727228. It is located in the West Midlands, with its registered office at The Distillery Watling Street, Clifton Upon Dunsmore, Rugby, Warwickshire, United Kingdom, CV23 0AJ.
Private limited companies engaged in industrial operations in the UK typically specialise in manufacturing, production processes, or the provision of goods and services supporting various industrial sectors. This can encompass a broad range of activities from processing raw materials to creating finished products.