CONVENIENCE FOODS LIMITED
Company number: 02226886
1 August 2019
to 31 January 2020
This report was filed on 27 February 2020
and approved by Craig Tomkinson
Average time taken to pay invoices: 56 days
- within 30 days: 31%
- in 31 to 60 days: 20%
- in 61 days or more: 49%
Invoices due but not paid within agreed terms: 74 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
We shall pay the price of the goods and the services on our first working day following the end of the third month following receipt of a correctly constituted VAT invoice or, if later, upon our acceptance of the goods or services in question.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Invoices are matched on receipt and disputed invoices notified to the supplier. Disputes are managed directly between the supplier and site and resolved items are then reprocessed.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?