SAYERS THE BAKERS LIMITED
Company number: 06582290
1 October 2017
to 31 March 2018
This report was filed on 10 April 2018
and approved by Mark Stephen James
Average time taken to pay invoices: 25 days
- within 30 days: 85%
- in 31 to 60 days: 12%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 14 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Sayers The Bakers does not have standard payment terms.
Payment terms are agreed with suppliers as part of contract negotiations.
Overdue invoices are mostly ones which had been under query.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Disputes are resolved by contacting in the first case informally and then formally the relevant parties including accounts payable/credit control teams, procurement and sales teams to allow them the opportunity to resolve within an acceptable time period.
If they are not resolved the supplier must then write to the Finance Director setting out details of their nresolved despute asking for a resolution.
These will be formally investigated within a 28 day period.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?