BESPAK EUROPE LIMITED
Company number: 03515896
Reporting period:
1 May 2017 to
31 October 2017
This report was filed on 22 November 2017
and approved by Keyvan Djamarani
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 55%
- in 61 days or more: 25%
Invoices due but not paid within agreed terms: 31%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
120 days
Standard payment terms
Standard payment terms are 60 days following the end of the month of the date of the invoice, however, specific terms are negotiated depending on the commercial situation. http://www.bespak.com/wp-content/uploads/2017/05/Bespak-Terms-and-Conditions-of-Purchase-1.03.17.pdf
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
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
N/A
Dispute resolution process
In the first instance disputes will be dealt with by the individuals responsible for the supply agreement, with support from the Head of Department and Finance. Failure to meet resolution will be escalated to the Finance 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 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.
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