The average time taken for CARGILL COTTON LIMITED to pay invoices to suppliers has increased in the last three periods. From June 2017 to November 2017, the average time taken was 21 days, which increased to 41 days from December 2017 to May 2018, and then slightly decreased to 39 days from June 2018 to November 2018.
The volatility in the percentage of invoices paid within 30 days has remained stable at 80% in all three periods. However, there has been an increase in the percentage of invoices paid later than 60 days, from 12% in the first two periods to 17% in the last period. This indicates a slight increase in delayed payments.
In the last three periods, CARGILL COTTON LIMITED has shown a trend of increasing average time taken to pay invoices to suppliers. The company has consistently maintained a high percentage (80%) of invoices paid within 30 days, but there has been a slight increase in the percentage of invoices paid later than 60 days, from 12% to 17%. This indicates a need for the company to improve their payment processes to avoid delayed payments.
| 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 Jun 2018 - 30 Nov 2018 | 28 Dec 2018 | 39 | 75% | 8% | 17% | 18% |
| 01 Dec 2017 - 31 May 2018 | 27 Jun 2018 | 41 | 80% | 8% | 12% | 17% |
| 01 Jun 2017 - 30 Nov 2017 | 28 Dec 2017 | 21 | 80% | 8% | 12% | 25% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Upon receipt or Net 30 days after 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
60
We have a Supplier relationships department which are responsible to reply to the Supplier in case of invoice status query. The Department can be reached via generic email addresses and suppliers are advised to use those when they have questions in this regard. The supplier relationships team investigates the issue in cooperation with the Business units, Invoice processing department and the Procurement department and, then, they provide an answer to the supplier.
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
CARGILL COTTON LIMITED is a company, based in the South East region.
From Companies House records.