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BRAVISSIMO LIMITED

Company number: 03315389

Reporting period:
1 May 2019 to 31 October 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 1 June 2022

and approved by Sally King

Payment statistics

Average time taken to pay invoices: 46 days

Invoices paid:

• within 30 days: 20%
• in 31 to 60 days: 54%
• in 61 days or more: 26%

Invoices due but not paid within agreed terms: 40 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

80 days

Standard payment terms

The Company's policy is to agree terms of payment with suppliers when agreeing terms of each transaction. Typically, payment terms for product suppliers range between 45 - 90 days. Overheads are generally on 30 day terms whilst Rents are paid in advance on the relevant quarter days

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

80 days

Any other information about payment terms

N/A

Dispute resolution process

The Finance Department ensures that good relationships with suppliers are maintained. Any queries raised by suppliers are referred initially to the Finance Department who will liaise with the supplier by phone/E Mail to reach a mutual agreement. If disputes cannot be settled by this process, the matter will be escalated to the Financial Controller and where appropriate to the relevant Supply Manager

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