| 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 | 17 Oct 2019 | 43 | 28% | 62% | 10% | 10% |
| 01 Jul 2018 - 31 Dec 2018 | 23 Jul 2019 | 44 | 19% | 74% | 7% | 10% |
| 01 Jan 2018 - 30 Jun 2018 | 06 Aug 2018 | 46 | 23% | 61% | 16% | 19% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
end of month following 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
105
Queries are raised with the supplier by the relevant purchasing/ordering department, as soon as practicable with the aim of resolving them before the invoice falls due. Any invoices with unresolved queries at the due date are withheld from payment until the dispute is resolved
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Dormole Limited is the registered entity trading as Toolbank, a national distributor of tools and related products to the trade. Toolbank supplies over 30,000 products from more than 250 brands, covering hand and power tools, fixings, workwear, storage, electrical items, security products, consumables and gardening equipment. It operates from 14 warehouses across the UK, offering next-day delivery and same-day dispatch for orders placed before 5pm. The business supplies only genuine resale trades, supported by local sales representatives and internal sales support, alongside merchandising, catalogues and promotional tools to help retail customers sell its ranges. Its own site states it operates as a B2B trade platform.
Generated from the company's website and Companies House records. Sources: toolbank.com