BFS GROUP LIMITED
Company number: 00239718
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 15 October 2020
and approved by Alison Brogan
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 63%
- in 61 days or more: 22%
Invoices due but not paid within agreed terms: 86 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Our standard payment terms are end of month, following month of invoicing (average 45 days) unless dictated by the specific contract.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
75 days
Any other information about payment terms
N/A
Dispute resolution process
All queries and disputes are handled by the Accounts Payable departments with reference to the receiving depot/department and the buying teams.
Inventory query reports are issued fortnightly to suppliers to assist with query resolution.
The timescale of resolution will be dependent upon the nature of the query and individual suppliers.
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.Yes – Prompt payment code
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.
Yes
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