Score of 87.4/100 qualifies for PaymentCheck Certification
Granite Finance LTD demonstrates a strong payment trend with an average payment time of 24 days, indicating consistent adherence to net-30 terms for a significant majority. 79% of payments are received within 30 days, suggesting a reliable and generally prompt payment trajectory. The absence of payments over 60 days further reinforces a positive trend in managing outstanding liabilities.
While 79% of payments are consistently within 30 days, a noticeable 21% fall into the 31-60 day category, indicating some minor fluctuation in payment predictability. The low 3% late payment rate suggests overall reliability, though suppliers should be aware of the possibility of payments extending slightly beyond immediate net-30 terms. This limited volatility primarily affects the timing of a minority of invoices rather than a broad pattern of delinquency.
Granite Finance LTD presents a low payment risk profile, characterized by an excellent average payment time and no extended delays, making them a generally reliable customer for suppliers. Key decision factors include their consistent performance within 30 days for most invoices and the complete absence of payments over 60 days. Suppliers might consider standard credit terms but could monitor the 21% that pay between 31-60 days for very large or critical orders.
| 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 2025 - 30 Jun 2025 | 24 Jul 2025 | 24 | 79% | 21% | 0% | 3% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Invoices are usually paid upon receipt of invoice, or payment is taken by direct debit
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
30
In the first instance, suppliers who have a query regarding an invoice should speak with their business contact who can liaise with the Accounts Payable team. Alternatively, suppliers can contact the accounts payable team directly at accountspayable@acorninsure.com. We aim to respond to all payment queries sent to the AP mailbox within 24 hours. If there is a dispute with goods or services received, this should be resolved directly between the relevant buyer within the business and 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
GRANITE FINANCE LTD is an active private limited company operating within the financial sector. Its company type signifies it is a privately owned business with limited liability.
The company was incorporated on 1 March 2008 and is registered with company number 06519981. Its registered office is located at 98 Liverpool Road Formby, Liverpool, Merseyside, L37 6BS.
Companies operating within the finance sector in the UK typically provide a variety of financial services. These commonly include offering loans, providing credit facilities, or supplying other financial solutions to businesses and individuals.