Supplier Payment Practices & Performance

The Reporting on Payment practices and Performance Regulations came into force in 2017 to promote a culture of better payment practices. The regulations require qualifying companies to publish specific information regarding their current payment practices and performance. This increased transparency will enable potential suppliers to comparatively evaluate and make more informed business decisions on new customers.

Highway Garden & Leisure is a trading name of Roys (Wroxham) LTD. The following data is representative of the Roys company as a whole, not just the Highway Garden & Leisure branch.

Reports

Payment Terms

The business has no standard payment terms.

Payment terms for small local businesses and grocery suppliers are normally between 14 days and 30 days from date of invoice. Payment terms for non-food suppliers are normally between 30 days and 60 days from date of invoice.

The maximum contractual payment period is 90 days from date of invoice.

There are early settlement discounts in place for certain suppliers as part of their contractual arrangements.

Figures below in brackets are for the previous 6 month period for comparison.

Proportion of invoices paid beyond agreed terms

1%
(1%)

Average time taken to pay invoices from date of issue

36.4 days
(35.8 days)

Proportion of invoices paid within the following periods, where day 1 is the date of invoice:

1-30

53%
(52.7%)

31-60

46.7%
(46.9%)

>60

0.3%
(0.4%)

Amount of late payment interest paid

£0

Amount of interest liable to pay

£0

Process for dispute resolution for overdue invoices

Any disputes relating to payment are referred to the Accounts Department who will investigate and aim to respond back within one working day. Disputes normally relate to missing invoices, to which a copy is requested to be sent over for processing, or price / quantity queries residing with the Buying team, who Accounts will contact to expedite a resolution.

What Do We Offer?

E-Invoicing

Yes

Supply chain finance

No

Preferred supplier lists

No

Are we a member of a payment code?

No

Have we ever requested payments to join or remain on a supplier list?

No