BRIT GROUP SERVICES LIMITED
Company number: 02245562
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
31 January 2020
Approved by:
Antony Edward Usher
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 15%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 27%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
The standard contractual payment terms obliged Brit to pay each valid and undisputed invoice submitted to Brit by the supplier within 30 days of receipt to a bank account nominated in writing by the supplier.
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
The maximum payment term is only applicable to contracts for services with a value of more than £1m.
Any other information about payment terms
Not applicable
Dispute resolution process
In the event of disputed amounts (line items) in an invoice, the business would only ever pay for the goods or services provided by the vendor as per the original purchase order / contract / statement of work and in line with the agreed payment terms.
If necessary, procurement will engage with Legal for any dispute or situation which could give rise to a dispute (such as exercising Brit’s rights to terminate an agreement which may give rise to contention).
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