BRAVISSIMO LIMITED
Company number: 03315389
Reporting period:
1 November 2019 to 30 April 2020
Report filed on:
1 June 2022
Approved by:
Sally King
Payment statistics
Average time taken to pay invoices: 54 days
Invoices paid:
- within 30 days: 18%
- in 31 to 60 days: 46%
- in 61 days or more: 36%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 40%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 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
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
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 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