BESTWAY PANACEA HEALTHCARE LIMITED
Company number: 09225514
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
31 January 2020
Approved by:
Lynette Krige
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 59%
- in 31 to 60 days: 6%
- in 61 days or more: 35%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 7%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Goods For Resale Wholesale is 30th month following invoice date (up to 60 days end of month ).
Goods Not For Resale and Goods For Resale Retail is 60 Days End Of Month
However, there are non-standard supplier payment terms which are shorter and longer than the standard terms.
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
Supplier makes contact with buyer of goods/services in case of dispute. All queries are answered in a timely manner. Invoice is typically placed on hold until dispute has been 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 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.
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