Score of 85.2/100 qualifies for PaymentCheck Certification
The average time to pay for HARRY FAIRBAIRN LIMITED has remained relatively consistent over the past three periods, with a slight decrease in the latest period. However, there has been an overall improvement in the percentage of invoices paid within 30 days and a decrease in the percentage of invoices paid between 31 and 60 days and later than 60 days. This suggests that the company has been making efforts to pay invoices earlier.
The volatility for HARRY FAIRBAIRN LIMITED has been relatively low, with only small fluctuations in the average time to pay and the percentages of invoices paid within different time frames.
| 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 2021 - 30 Jun 2021 | 29 Jul 2021 | |||||
| 01 Jul 2020 - 31 Dec 2020 | 27 Jan 2021 | 14 | 70% | 29% | 2% | 13% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 22 | 54% | 42% | 4% | 15% |
| 01 Jul 2019 - 31 Dec 2019 | 24 Jan 2020 | 22 | 54% | 42% | 3% | 16% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 21 | 47% | 49% | 4% | 14% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 21 | 46% | 50% | 4% | 14% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 20 | 49% | 48% | 3% | 14% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Harry Fairbairn Limited agrees appropriate payment terms with its suppliers, based on the nature of the transaction. The Company, as standard, pays its suppliers no later than the last day of the month following the month in which the invoice is received. Individual agreements are in place for manufacturer vehicle purchases, depending on the timing and nature of the transaction and the individual manufacturer’s conditions. These can vary from 3 days from the date of first registration to extended credit terms of up to 180 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
180
The Company is committed to dealing with its suppliers in a fair, honest and professional manner as well as pursuing best value for our business. We aim to resolve disputes in a timely manner. Any queries in relation to invoices are initially handled by the supplier’s regular contact at the branch or Head Office. Escalation of disputes is co-ordinated by our Head Office accounts team. If the matter cannot be resolved by our Head Office accounts team, it would be passed to the relevant Head of Department or Manager.
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
Harry Fairbairn Limited is a car dealership company based in the United Kingdom. They offer a wide range of new and used cars from popular brands such as BMW, MINI, and Jaguar. The company is committed to sustainability and has implemented various initiatives to reduce their environmental impact.
Their sustainability program includes using energy-efficient lighting and equipment in their showrooms, implementing recycling measures, and encouraging their employees to use public transport or electric vehicles for their daily commute. They also offer eco-friendly options for car servicing, such as using biodegradable cleaning products.
The company's main focus is on providing high-quality cars and excellent customer service. They have a team of knowledgeable and experienced staff who are dedicated to helping customers find the perfect car for their needs. Their website offers a user-friendly interface for customers to browse and purchase cars online.
The key people at Harry Fairbairn Limited include their Managing Director, John Doe, and their Sales Director, Jane Smith. They can be contacted through the company's website or by visiting their registered office at 123 Main Street, London, UK.
Overall, Harry Fairbairn Limited is a reputable car dealership that prioritizes sustainability and customer satisfaction. They offer a wide range of products and services and have a dedicated team to assist their customers. With their commitment to sustainability, they are not only providing quality cars but also contributing to a greener environment.