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SHARP'S BREWERY LIMITED

Company number: 04729760

Reporting period:
1 January 2019 to 30 June 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 23 July 2019

and approved by Robert Eveson

Payment statistics

Average time taken to pay invoices: 44 days

Invoices paid:

• within 30 days: 27%
• in 31 to 60 days: 47%
• in 61 days or more: 26%

Invoices due but not paid within agreed terms: 11 %

Payment terms

Standard payment period for qualifying contracts

90 days

Standard payment terms

Sharps shall process payment of an invoice no later than the first Payment Date following the expiry of the 90 days’ period commencing on the later of the receipt of a valid VAT invoice delivered in accordance with the contract or the acceptance of the goods by Sharps. Payment shall be made to the bank account nominated in writing by the supplier.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

We believe that it is important to provide our suppliers with a fair and transparent dispute resolution process which deals with what actions they can take if and when a dispute or concern arises. With this in mind, our suppliers are issued with a copy of our invoice process and dispute resolution process at the outset of the relationship.

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.

No

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.

Yes

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