BI WINES AND SPIRITS LIMITED
Company number: 03284109
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 11 July 2018
and approved by Colin West
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 65%
- in 31 to 60 days: 24%
- in 61 days or more: 11%
Invoices due but not paid within agreed terms: 18 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
The Company does not have standard payment terms. Terms are negotiated with suppliers on a case-by-case basis.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
120 days
This relates to suppliers of en primeur wines from Bordeaux
Any other information about payment terms
N/A
Dispute resolution process
Disputes related to pricing or incorrect quantities are raised by the Company's buying team with their counterparts at the supplier. The suppliers account is placed on hold until the matter is resolved
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.
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