BRAKE BROS LIMITED
Company number: 02035315
Reporting period:
31 December 2017 to
30 June 2018
This report was filed on 30 July 2018
and approved by Michael Ball
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 24%
- in 31 to 60 days: 40%
- in 61 days or more: 36%
Invoices due but not paid within agreed terms: 36%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
The standard payment terms are weekly, no earlier than 60 days after the date of delivery. The reason payment terms are “no earlier than 60 days” is to allow for our main weekly payment run to capture invoices due and allow for cash to be received into the supplier’s account. However there are non-standard supplier payment terms which can be shorter and longer than the standard terms. In certain circumstances a supplier may seek to impose its own payment terms, and in other circumstances, a bespoke contract may be agreed.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
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
N/A
Dispute resolution process
Resolution of disputes is handled on a case-by-case basis. The company seeks to resolve disputes as quickly as possible.
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, 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.
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?
Yes
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No