GB GROUP PLC
Company number: 02415211
Reporting period:
1 April 2020 to 30 September 2020
Report filed on:
16 October 2020
Approved by:
Dave Wilson
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 13%
- in 61 days or more: 9%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 22%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
https://www.gbgplc.com/media/3877/supplier-terms-and-conditions-v5-clean.pdf Section 12.4 in GB Group plc’s supplier terms and conditions states our standard terms as the following: “…after receiving a correctly submitted invoice GBG shall pay the Agreement Price to the Supplier and such payment shall normally be made within 30 days of receipt by GBG of the invoice.”
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
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
N/A
Dispute resolution process
The disputes resolution process is published: https://www.gbgplc.com/media/3877/supplier-terms-and-conditions-v5-clean.pdfRefer to section 26 in standard terms and conditions:26. DISPUTE RESOLUTION26.1. The parties shall attempt in good faith to negotiate a settlement to any dispute between them arising out of or in connection with the Agreement.26.2. If the parties cannot resolve the dispute pursuant to Condition 25.1., either party may at any time serve written notice on the other stating that a dispute exists and setting out the matters in dispute and the dispute may then, by agreement between the parties, be referred to mediation.26.3. The performance of the Agreement shall not cease or be delayed by the reference of a dispute to mediation.All invoices should be addressed to GB Group plc, Herons Way, Chester Business Park, Chester, CH4 9GB. Accounts payable can be contacted by calling 01244 657048 or by emailing purchase.invoices@gbgplc.com. Disputes may be raised by emailing purchase.invoices@gbgplc.com in the first instance and your account contact. Wherever possible, GBG will attempt to resolve disputes within 28 days.
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, 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