THE BART INGREDIENTS CO. LTD
Company number: 04937130
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
28 July 2022
Approved by:
David Collard
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 11%
- in 31 to 60 days: 61%
- in 61 days or more: 28%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 45%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
75 days
Standard payment terms
Payment terms are agreed wih suppliers before entering into commercial contracts. Our standard terms are 45 days from end-of-month (makes up 20% of invoices paid in this period), while the most common payment terms were 30 days from invoice date (30% of invoices)
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
Our accounts payable department are contactable by email to resolve any invoice or payment processing queries as soon as possible. Disputes relating to quality, quantity or price differences are investigated by our procurement and supply chain departments and communicated to the supplier to reach a resolution.
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