BRITANNIA PHARMACEUTICALS LIMITED
Company number: 01557088
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Elizabeth Robinson
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 27%
- in 31 to 60 days: 65%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 78%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms are 45 days on receipt of invoice, paid on the next payment run made semi-monthly. Depending on the category of spend, higher or lower standard payment terms may also be employed in line with industry standards for those spend areas.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In case a supplier needs to contact Britannia Pharmaceuticals accounts payable department, an email address is available on every purchase order the supplier receives. Britannia Pharmaceuticals accounts payable department aims to resolve issues as promptly as possible, on average between 3 to 5 working 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 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