R.D.TRADING LIMITED demonstrates a generally prompt payment trend with an average payment time of 26 days. While 56% of invoices are settled within 30 days, a substantial 40% extend to the 31-60 day range, indicating a common pattern of slightly extended payment cycles. Only a minimal 3% of payments exceed 60 days, with actual 'late' payments at a negligible 1%.
The distribution of payments, with 40% falling between 31-60 days, introduces a moderate level of unpredictability for suppliers expecting strict 30-day settlements. While truly late payments are rare, suppliers should anticipate that a significant portion of invoices will not adhere to a 30-day term, potentially impacting short-term cash flow forecasting. This extended cycle, despite a low average, suggests that reliability for quick payment varies, rather than being consistently fast.
Suppliers can generally consider R.D.TRADING LIMITED a reliable partner, given the very low incidence of truly late payments. However, a key decision factor should be the willingness to accommodate payment cycles often extending into the 31-60 day window. To mitigate potential cash flow impact, suppliers should consider negotiating clear payment terms reflecting this reality or implementing early payment discounts to encourage faster settlement.
| 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 | 09 Jul 2019 | 26 | 56% | 40% | 3% | 1% |
| 01 Jan 2018 - 30 Jun 2018 | 23 Aug 2018 | 24 | 57% | 40% | 2% | 1% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
RD Trading uses a standard 30 day payment term unless otherwise agreed with the supplier. For our Stock suppliers, the agreed terms are for immediate payment for the goods on the same day when value and quantity are agreed and signed on a purchase by purchase 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
60
Issues are initially handled by the accounts payable team and the respective manager who oversees the area for the related cost. Telephone calls between RD Trading and the supplier followed by emails are used to identify and confirm the situation and an agreed course action. If the issue persists and remains unresolved, it is escalated to senior management.
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
R.D.TRADING LIMITED operates as an active private limited company. Its primary business function, as indicated by its name, involves commercial trading activities.
The company was incorporated on 23 March 1992 under company number 02699427. Its registered office is situated at Tekhnicon, Springwood, Braintree, United Kingdom, CM7 2YN, placing its operations within the East of England.
As a company engaged in trading, R.D.TRADING LIMITED typically specialises in the procurement and distribution of goods. This can encompass wholesale operations, import and export activities, or facilitating the exchange of various products within the UK market.