SPECIALITY DRINKS LIMITED
Company number: 04449145
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
21 August 2020
Approved by:
Sukhinder Singh Sawhney
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 44%
- in 61 days or more: 30%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 66%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Certain stock suppliers and all non-stock suppliers have varying terms from immediate payment to 30 days from invoice date. Zero days shown in the shortest standard payment period relates to supplier payments being made immediately. Those suppliers not on 30 days generally have standard payment terms of 30 days following end of the month of the invoice date. All period commence on date of invoice.
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 suppliers in a fair, honest and professional manner. Depending on the nature of the query, either the Supply Chain team or Accounts Payable team will raise claims for any disputed invoices. Invoices in query will be held for payment until the claim has been resolved.
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