BUILD-A-BEAR WORKSHOP UK LIMITED
Company number: 04537212
Reporting period:
3 February 2020 to 2 August 2020
Report filed on:
29 September 2020
Approved by:
Voin Todorovic
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 91%
- in 31 to 60 days: 6%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Under BABW's standard contractual terms we commit to the payment of all undisputed sums properly due to third party suppliers within 30 days of receipt of valid invoice. Invoices are received via our central processing centre, accessed at AccountsPayableUK@buildabear.com.
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
No further comment provided
Any other information about payment terms
In March 2020 BABW delayed the payment of store rents due to the lack of cash inflow following the Covid 19 lockdown.
Dispute resolution process
BABW's authorised representatives seek to resolve any issues as soon as possible before invoice is apporved for payment. The authorised representative is the supplier's main contact with BABW for purchases. This is typically the person who has ordered the goods or services and who has been named on the invoice.
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