BUSSEY & SABBERTON BROS.LIMITED
Company number: 00184728
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
5 July 2018
Approved by:
Scott Slater
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 37%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
3 days
Longest standard payment period
Answer not provided
Standard payment terms
We do not have standard payment terms.
Our largest supplier by far is Ford Motor Company (FMC) who supply the vehicles we sell throughout our dealership. FMC issue invoices for the vehicles but payment only becomes due either when we register the vehicle or 100 days after it is gate released (whichever is earlier).
Payment terms are very much dictated by FMC and payment is automatically taken by them in accordance with the above terms.
Our other manufacturer partner (Peugeot) operate in a similar way and again, they very much dictate payment terms that we have to comply with.
Other suppliers provide their own payment terms (typically 30 days from date of 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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Our purchase ledger department receives all invoices and registers them on the purchase ledger within our Dealer Management System and allocates them to the appropriate manager to approve for payment.
If the manager does not approve or disputes the invoice they will either already be in contact with the supplier, or the supplier will contact our purchase ledger department who will explain the nature of the dispute or refer them to the appropriate manager.
Any complaints or notifications from suppliers that they will be putting us on stop will be referred to a director.
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