Score of 86.1/100 qualifies for PaymentCheck Certification
The data for CANTERBURY OF NEW ZEALAND LIMITED shows a general trend of decreasing average time to pay invoices and an increasing percentage of invoices paid within 30 days. However, there is also a slight increase in the percentage of invoices paid between 31 and 60 days and a fluctuation in the percentage of invoices paid later than 60 days.
The volatility in the data for CANTERBURY OF NEW ZEALAND LIMITED can be seen in the fluctuation of the percentage of invoices paid within 30 days and the percentage of invoices paid later than 60 days. There is also a significant decrease in the average time to pay in the period of 2021-07-01 to 2021-12-31 compared to the previous period.
From the data, we can see that there has been a significant improvement in the payment process of CANTERBURY OF NEW ZEALAND LIMITED over the past three periods. In the period of 2021-07-01 to 2021-12-31, there was a decrease in the average time to pay and an increase in the percentage of invoices paid within 30 days compared to the previous period. This shows a positive trend towards early payment. However, there was also a slight increase in the percentage of invoices paid between 31 and 60 days, and a significant increase in the percentage of invoices paid later than 60 days in the same period. This indicates that while there has been an improvement in early payment, there are still some issues with invoices being paid later than 60 days.
| 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 2022 - 30 Jun 2022 | 01 Aug 2022 | 20 | 84% | 15% | 1% | 27% |
| 01 Jul 2021 - 31 Dec 2021 | 07 Mar 2022 | 48 | 66% | 19% | 15% | 37% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 70 | 65% | 17% | 18% | 35% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 65 | 76% | 14% | 10% | 51% |
| 01 Jan 2020 - 30 Jun 2020 | 27 Jul 2020 | 22 | 86% | 11% | 3% | 68% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 11 | 96% | 4% | 1% | 46% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 23 | 58% | 28% | 14% | 68% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 15 | 57% | 28% | 14% | 52% |
| 01 Jan 2018 - 30 Jun 2018 | 17 Jul 2018 | 28 | 34% | 34% | 32% | 71% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We usually work to our suppliers' payment terms. In absence of formal terms we will apply 30 days
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
In the event of a dispute, the supplier would contact our AP department or their lead contact in our business. We would determine if a late payment was a result of administrative error, or dispute over the services. Where the late payment was administrative, we would request immediate payment from the AP team. Where there was a clear dispute over performance of the contract, we would agree a remediation/correction plan with our supplier. In the unlikely event that no agreement is reached with the supplier we would involve our internal and/or external legal consultants over any expected litigation action.
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
Canterbury Of New Zealand Limited is registered in England and Wales, having originally incorporated as Hallco 1699 Limited before adopting its current name. Companies House records its nature of business under manufacture of other wearing apparel and accessories, and wholesale of textiles. This points to the company operating in clothing manufacture and the wholesale supply of textile goods, consistent with the Canterbury of New Zealand sportswear brand name. No further descriptive detail of specific product lines, trading operations or turnover is available from the supplied evidence. The company remains active, with its registered office in London and a board of company directors and a company secretary recorded on the public register.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk