FERDINAND BILSTEIN UK LIMITED
Company number: 02231185
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
26 July 2021
Approved by:
Christopher Dickinson
Payment statistics
Average time taken to pay invoices: 64 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 6%
- in 61 days or more: 21%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
120 days
Standard payment terms
Business standard payment terms are 30 days net from invoice date.
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
120 days
The maximum contractual payment period is 120 days. This maximum payment period has been negotiated with less than 5 suppliers who generally tend to supply large volumes.
Any other information about payment terms
No further comment provided
Dispute resolution process
The business has in place a process for managing payment disputes which involves contacting the purchase ledger team on fen-finance.nonstock@bilsteingroup.com.
In cases of escalation cases will be reviewed by the line manager of the purchase ledger team, Miss Sandra Petraviciute.
If the issue still cannot be resolved then the issue can be escalated to Mr. Christopher Dickinson, the Head of Finance.
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