CONVIVIALITY BRANDS LIMITED
Company number: 09750710
Reporting period:
1 May 2017 to 29 October 2017
Report filed on:
30 November 2017
Approved by:
Mark Moran
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 53%
- in 61 days or more: 32%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 67%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
120 days
Standard payment terms
Stock suppliers (retail): end of the month following the date of invoice. Non-stock supplier (retail): 45 days from end of the month following the date of invoice. Non-UK suppliers: 60 to 90 days from the date of invoice (period is expressly agreed with relevant supplier).Wine purchasing – 60 days for UK collection/ deliveries; 90 days (European collection/deliveries); 120 days (Rest of the world collections/deliveries). All periods commence on date of invoice. Elastic and Peppermint each adopt standard payment terms of 30 days from invoice date, with upfront payment required from production and certain other suppliers.
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
120 days
No further comment provided
Any other information about payment terms
The reported figures and payment terms are consolidated reporting of this company and its subsidiaries. This company does not adopt its own standard terms.
Dispute resolution process
Claims for any disputed invoices are raised to the supplier detailing if the query relates to a quantity discrepancy (short delivery) or a pricing query. If the claim relates to a pricing query this is submitted to the supplier along with the supporting evidence from the buyers. The invoice is typically placed on hold until a credit is received to clear the claim.
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