HOTEL CHOCOLAT LIMITED
Company number: 02805730
Reporting period:
1 July 2017 to 31 December 2017
Report filed on:
11 January 2018
Approved by:
Matt Pritchard
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 33%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 40%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
60 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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. The main point of contact for disputes is Accounts Payable team. To resolve a dispute, the supplier is required to provide any missing information, corrected invoice or credit note. If the Accounts Payable team are unable to resolve the dispute, then the issue is then escalated to the purchaser who is then responsible for resolving the issue. The Company maintains an electronic purchase invoice query log which is circulated via an automated email from the Accounts Payable team to the assigned person(s) above. The Company reports key performance metrics which capture the number of instances of items that are in query. These are reported on a weekly basis within the department.
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