UNDERDOG RESTAURANTS LIMITED
Company number: 05786163
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
30 July 2019
Approved by:
Alex McLauchlan
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 35%
- in 31 to 60 days: 63%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 57%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
30 days from the day of the invoice.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
We have a stock system, if there is an invoice in dispute that should be enter into the stock system our stock manager will deal with the supplier to review if this invoice is a duplicate or an error. If the invoice is correct then will be paid 90 days after the date of the invoice, we notify the supplier that due to delay on solving the problem we will have to pay the invoice 90 days after the invoice date. If is an invoice that should not be included on our stock system then the person who place the order will check the invoice and deal with the supplier and if is correct then will be paid 90 days after the day of the invoice or prior depending on the agreement reached between the company-supplier.
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