BURGER & LOBSTER RESTAURANT GROUP LIMITED
Company number: 08332271
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
26 July 2018
Approved by:
Dasha Ovchenkova
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 46%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
15 days
Longest standard payment period
45 days
Standard payment terms
Burger & Lobster Restaurant Group Limited, as standard, pays all its suppliers and distributors no later than 15 days after the last day of the month following the month in which the relevant undisputed invoice is received i.e. between 15 and 45 days from receipt. Variations to these standard payment terms are by exception only, and only applied when negotiated and agreed by both parties.
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Burger & Lobster Restaurant Group has a dedicated accounts payable team that supports suppliers with query resolution. The team can be contacted by email or phone Monday to Friday. Where the accounts payable team are not able to resolve the query, they will refer the matter to the senior operational team in order to reach a resolution promptly.
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