BRIGHTSIDE GROUP LIMITED
Company number: 05941335
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 19 January 2021
and approved by James Slade
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 48%
- in 31 to 60 days: 44%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 52 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Standard payment terms are on a 30 day period. We only have 1 exception to this for one contract, which has been extended to a 45 day period.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
If invoice or payment is disputed, we contact supplier initially to resolve within 1 day period, an on-going dialogue will continue until achieved. If no resolve is obtained a face to face meeting would take place. A last resort would be to instigate legal proceedings.
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
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