FASTNET FISH LIMITED
Company number: 02091078
Reporting period:
1 October 2018 to 31 March 2019
Report filed on:
9 July 2019
Approved by:
J Herd
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 24%
- in 31 to 60 days: 49%
- in 61 days or more: 27%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 68%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
180 days
Standard payment terms
Fastnet Fish Limited do not have standard payment terms, as these are
individually agreed with each UK and overseas supplier during the contractual
negotiation period. The maximum payment period we have agreed to in a
qualifying contract entered into in the reporting period is 180 days.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
180 days
No further comment provided
Any other information about payment terms
In arriving at the reported statistics, the ‘receipt of invoice date’ has been taken to
be the date when goods arrive on site for supply contracts, and the invoice date for
agent contracts. The payment date is the date when payment has been made by
Fastnet Fish Ltd. The report includes intercompany transactions
Dispute resolution process
Disputes with suppliers are dealt with the buyer/trader who is responsible for that
particular supplier contract, either through email or phone. If Fastnet Fish Limited
dispute an invoice, we aim to promptly inform and negotiate with the supplier to
reach a mutually acceptable outcome
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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