REVOLUTION BARS LIMITED
Company number: 08838980
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
19 February 2020
Approved by:
Mike Foster
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 49%
- in 31 to 60 days: 42%
- in 61 days or more: 9%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
189 days
Standard payment terms
End of month + 30 days
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
N/A
Any other information about payment terms
N/A
Dispute resolution process
When there is a dispute with payment, the concerned supplier will make contact with the accounts payable department. The accounts payable will make a note of the query and will try to resolve the query as quickly and efficiently as possible. Depending on the complexity or the query, it will either be resolved by the accounts payable clerk or escalated to their line manager. Once the issue has been resolved, the supplier will be advised of the payment date, along with the remittance slip.
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