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BUZZ GROUP LIMITED

Company number: 00794943

Reporting period:
12 January 2020 to 11 July 2020

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This information is as reported by the business, and responses are in their own words.

This report was filed on 10 August 2020

and approved by Gary Payne

Payment statistics

Average time taken to pay invoices: 61 days

Invoices paid:

• within 30 days: 10%
• in 31 to 60 days: 51%
• in 61 days or more: 39%

Invoices due but not paid within agreed terms: 44 %

Payment terms

Standard payment period for qualifying contracts

60 days

Standard payment terms

As a result of COVID19 and the requirement to close bingo clubs, along with the government guidance on the payment of rent and service charges, a number of invoices have been not been paid on their due date during this reporting period, and revised payment terms are being agreed with landlords.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

Queries by Suppliers would be made either to the Accounts Payable or Procurement team and would be followed up appropriately to resolve any disputes. Any queries would be dealt with immediately at a senior level. We have invoice and dispute resolution in our contracts, where they sign up to our terms and conditions.

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.

No

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