G'S FRESH LIMITED
Company number: 05440764
Reporting period:
7 May 2017 to 4 November 2017
Report filed on:
25 January 2018
Approved by:
Robert Hunter
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 67%
- in 31 to 60 days: 30%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 21%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
The majority of payments are subject to 28-39 day terms for fresh produce sold on behalf of our growing base along with payments for services i.e. Distribution. The majority of payments are either made weekly or bi-weekly as agreed with our suppliers. The bi-weekly payments are primarily the cause of some payments going outside of terms. 7 day terms only apply to a very few suppliers, mainly for labour. 60 day terms again only apply to very few suppliers.
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
No further comment provided
Dispute resolution process
Disputes are reviewed on an individual basis between the finance team and the team that manage the supplier with the dispute.
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