BRUNNING AND PRICE LIMITED
Company number: 01543132
Reporting period:
1 January 2018
to 1 July 2018
This report was filed on 31 July 2018
and approved by Kirk Davis
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 86%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 4 %
Payment terms
Shortest standard payment period
28 days
Longest standard payment period
61 days
Standard payment terms
Standard payment terms are the last business day of the month after the invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
61 days
Any other information about payment terms
None.
Dispute resolution process
All suppliers can contact the Accounts Payable team by phone or email to check the status of their invoice at any time during business hours. Disputes would typically be escalated to a senior member of the finance, procurement or relevant operational function. If necessary, this may be further escalated to the relevant executive board member.
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.
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