The average time taken for JCB MATERIALS HANDLING LIMITED to pay invoices has decreased from 51 days in Jan 2018-Jun 2018 to 45 days in Jan 2019-Jun 2019.
The percentage of invoices paid within 30 days has fluctuated between 6%-11% in the past three periods.
From Jan 2018-Jun 2018 to Jan 2019-Jun 2019, there has been a decrease in the average time taken for JCB MATERIALS HANDLING LIMITED to pay invoices, from 51 days to 45 days. The percentage of invoices paid within 30 days has also increased from 7% to 11%. However, the percentage of invoices not paid within agreed terms remains high at 72% in Jan 2019-Jun 2019.
| 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 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 54 | 6% | 54% | 40% | 66% |
| 01 Jan 2018 - 30 Jun 2018 | 19 Jul 2018 | 51 | 7% | 53% | 40% | 82% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payments by the Company will normally be made at the month end of the month following receipt of invoice plus one English working day.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
Group Purchasing deal with all qualifying contractual payment queries, along with dispute resolution. There are no specific resolution timescales and will be dealt with as a priority.
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.
❌
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.
❌
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
JCB Materials Handling Limited is a registered UK company based in Rocester, Staffordshire, part of the wider JCB group of companies. Companies House records its nature of business under SIC code 28922, described as manufacture of earthmoving equipment. The company was originally incorporated as Rumstar Limited before adopting its current name. It remains an active private limited company. As its name and classification indicate, its role within the group relates to the manufacture of materials handling and earthmoving machinery, rather than distribution or retail of third party goods. No further detail on specific product lines or trading operations 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