BAKKAVOR FOODS LIMITED

Company number: 01060806

Reporting period:
30 December 2018 to 29 June 2019

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This report was filed on 29 July 2019

and approved by Agust Gudmundsson

Payment statistics

Average time taken to pay invoices: 57 days

Invoices paid:

• within 30 days: 11%
• in 31 to 60 days: 50%
• in 61 days or more: 39%

Invoices due but not paid within agreed terms: 82%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

120 days

Standard payment terms

There are no standard payment terms as payment terms are agreed individually with suppliers, within the range stated above

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

The longest payment terms and maximum contractual payment terms have been increased from 90 days to 120 days, in line with norms for certain sectors

Were suppliers notified or consulted about these changes before they were made?

Payment terms are agreed with the relevant supplier

Maximum contractual payment period agreed

120 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Invoices are processed on receipt and matched with purchase orders. Where there are invoice or payment queries our Accounts Payable team will notify the supplier and efforts will be made to resolve any dispute promptly

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, 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.

Yes

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