| 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 2019 - 31 Dec 2019 | 12 Feb 2020 | 42 | 27% | 63% | 10% | 60% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 45 | 25% | 58% | 17% | 66% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 41 | 25% | 66% | 9% | 60% |
| 01 Jan 2018 - 30 Jun 2018 | 19 Jul 2018 | 48 | 18% | 60% | 22% | 80% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The majority of our suppliers are long term relationships with established payment terms either as dictated by the supplier or negotiated by both parties. For new suppliers, Gradus engage with the supplier to agree on the payment terms. In default of agreement otherwise, the standard terms used by Gradus are 30 days end of month. The maximum payment terms agreed with a supplier during the period were 90 days end of month. Changes in payment terms are usually requested only in the case of a new relationship where initial dealings have been on a pro forma basis and we are looking to agree standard payment terms. Changes are only made on an agreed basis.
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
90
• A dispute relating to a supplier invoice will be notified to the finance department by the member of staff managing the supplier relationship • A note is made on the system that the invoice is in query and is not to be paid until resolved • The supplier will be made aware of the nature of the dispute (by the appropriate purchasing contact) and the actions required to resolve • We aim to resolve disputes as quickly as possible through dialogue with the supplier • Once dispute is resolved the invoice is passed for payment and is either placed on the next available payment run or is paid via a one-off BACS transfer if required sooner such that the contractual payment terms are still met
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
Gradus Limited, based in Cheshire, manufactures contract interior products for commercial and institutional buildings. Its output includes stair edgings and floor trims, skirtings, floor coverings such as carpet and luxury vinyl tile, barrier matting systems, wall protection and cladding systems, and LED lighting systems. Founded in 1966, the business employs over 300 staff and supplies UK and international markets, serving sectors including offices, education, healthcare, leisure, hospitality, housing and retail. Registered facts show it is classed under manufacture of plastic products and fabricated metal products, reflecting its production of accessories and protection systems used in fitting out buildings. It also offers supply and fit services and design support for these interior products.
Generated from the company's website and Companies House records. Sources: gradus.com · gradus.com