Company number: 03872673
and approved by Timothy Smith
Average time taken to pay invoices: 72 days
Invoices paid:
Invoices due but not paid within agreed terms: 67%
0 days
90 days
Standard payment terms are 60 days following the end of month of the date of invoice, however various commercial payment terms are negotiated with our suppliers and service partners, structured around terms commonly applied within the market segments of our industry. http://www.theafegroup.com/policies
Answer not provided
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90 days
We continue to work with our service and supply partners to apply mutually agreed payment terms and to help support our supply chain and service partner networks. The unprecedented impacts brought about by the coronavirus pandemic have brought about severe business disruption to the hospitality and Foodservice industry. We have worked to support our customers in facilitating extended payment arrangements for them during these very difficult times. We have similarly been very grateful to our supplier partners who have supported our initiative in agreeing additional time to pay arrangements with the AFE Group Ltd business units
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In the first instance the person responsible for the supply agreement will look to resolve the dispute, if unresolved this will then be escalated to the head of the department and Financial Controller. Failure to meet a resolution will then be escalated to the Finance Director.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No