ABF GRAIN PRODUCTS LIMITED
Company number: 00079590
Reporting period:
17 September 2017 to 16 March 2018
Report filed on:
13 April 2018
Approved by:
Mark Ward
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 58%
- in 61 days or more: 23%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 39%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
ABF Grain Products is the legal entity of a group of divisions who have there own payment practices and processes. Standard terms are mainly 60 days across the divisions however are 30 days for one of the divisions.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
Maximum terms on our largest division is 60 days from the end of the invoiced month. This can mean payments are made on average between 75-90 days from the invoice date.
Any other information about payment terms
N/A
Dispute resolution process
ABF Grain Products largest division dispute process can be found via the following link: http://www.alliedbakeries.co.uk/media/7909/How%20To%20Get%20Paid%20Guide%20-%20Allied%20Bakeries.pdf. Another example of a divisions dispute process can be found within the terms and conditions of purchase under section 17.11, see link below: https://westmill.co.uk/termspdfs/TCs_of_purchase.pdf Other divisions have various processes, including contacting the accounts payable team who will direct the query internally to be resolved as soon as possible.
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.
Yes, this business has signed up to: Prompt payment code
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No