GOV.UK
LOTUS INTERNATIONAL LIMITED
Company number: 01835272
Reporting period:
1 November 2018
to 30 April 2019
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 24 September 2019
and approved by John Phelps
Payment statistics
Average time taken to pay invoices: 14 days
Invoices paid:
- within 30 days: 100%
- in 31 to 60 days: 0%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 0 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
15 days
Standard payment terms
97% of purchase payment is to airlines though IATA BSP automated payment system with cash taken 15 days from BSP invoice. Of remainder almost all paid by credit card.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
15 days
Travel industry standard payment terms.
Any other information about payment terms
Failure to observe standard industry payment terms is not possible with BSP and in other areas would result in non supply of services.
Dispute resolution process
Standard industry practices apply
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