BAKKAVOR FOODS LIMITED
Company number: 01060806
26 June 2022
to 31 December 2022
This report was filed on 20 January 2023
and approved by Benjamin Jay Waldron
Average time taken to pay invoices: 75 days
- within 30 days: 10%
- in 31 to 60 days: 32%
- in 61 days or more: 58%
Invoices due but not paid within agreed terms: 61 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
There are no standard payment terms as payment terms are agreed individually with suppliers, within the range stated above.
Were there any changes to the standard payment terms in the reporting period?
Yes – New payment terms have been agreed with suppliers, within the range of 1 day to 120 days, in line with norms for certain sectors.
Were suppliers notified or consulted about these changes before they were made?
Yes – All changes to payment terms are agreed with the relevant supplier.
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Invoices are processed on receipt and matched with purchase orders. Where there are invoice or payment queries our Accounts Payable team will notify the supplier and efforts will be made to resolve any dispute promptly.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?