The average time taken for CLEVELAND POTASH LIMITED to pay invoices has remained relatively stable over the past three periods, with a slight increase from 26 days in the second period to 29 days in the third period. The percentage of invoices paid within 30 days has also remained consistent, ranging from 54% to 59%. However, there has been a noticeable decrease in the percentage of invoices paid later than 60 days, from 4% in the first period to 3% in the third period.
The volatility of CLEVELAND POTASH LIMITED's invoice payment process has decreased over the past three periods, as evidenced by the decreasing percentage of invoices paid later than 60 days. This indicates that the company has improved their payment practices, resulting in more timely payments and a more stable payment process.
| 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 2019 - 30 Jun 2019 | 29 Jul 2019 | 29 | 54% | 43% | 3% | 60% |
| 01 Jul 2018 - 31 Dec 2018 | 05 Feb 2019 | 26 | 59% | 40% | 1% | 22% |
| 01 Jan 2018 - 30 Jun 2018 | 24 Sept 2018 | 29 | 55% | 40% | 4% | 42% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30N2 30 days from invoice date. 2% discount with payment within 14 days B030 Net 30 days from Baseline date B045 Net 45 days from Baseline Date C015 Current month + 15 days C031 Current month + 31 days invoice date C061 Current month + 61 days invoice date N000 Immediately N007 Net 7 days from invoice date N015 Net 15 days from invoice date N030 Net 30 days from invoice date N045 Net 45 days from invoice date N060 Net 60 days from invoice date
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
180
All disputes and complaints need to be submitted by the supplier to email address ehq_vendor_correspondence@icl-group.com Disputes and complaints can also be submitted by letter to our offices. Upon receipt of the message. Our accounts payable team will take action to resolve the matter within 5 business days A written response is only sent whenever an invoice is in query. If the dispute has been resolved prior to receiving communication from vendor. No response will be sent. The choice to respond to a communication is subject to the judgement of the staff from Cleveland Potash Limited.
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
Cleveland Potash Limited is registered at Boulby Mine, Loftus, in Cleveland, and its Companies House classification (SIC 08910) identifies it as engaged in mining of chemical and fertiliser minerals, namely potash. Industry evidence confirms the company supplies the fertiliser market with crop nutrition products, alongside other suppliers named by the Potash Development Association, an independent technical advisory body supported by Cleveland Potash Ltd. The company has been incorporated since 1967 and remains active. Its core activity is extracting potash from its Boulby Mine site for onward use in agricultural fertiliser production, positioning it as a raw material supplier to the crop nutrition sector rather than a manufacturer of finished fertiliser products itself.
Generated from the company's website and Companies House records. Sources: pda.org.uk