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GREEN LABEL FOODS LTD.

Company number: 03749653

Reporting period:
1 March 2018 to 31 August 2018

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

This report was filed on 18 September 2018

and approved by Steve Harley

Payment statistics

Average time taken to pay invoices: 46 days

Invoices paid:

• within 30 days: 21%
• in 31 to 60 days: 66%
• in 61 days or more: 13%

Invoices due but not paid within agreed terms: 23 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

60 days

Standard payment terms

Based on the supplier invoice due date

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

No

Maximum contractual payment period agreed

60 days

Maximum supplier terms based on our current supplier ledger book

Any other information about payment terms

We endeavour to meet the supplier due dates, but do not make payments every day. We process payments twice a week and therefore a supplier may be paid 2 or 3 days behind depending on the date their invoice falls due.

Dispute resolution process

We request copy POD's for any invoices that are yet to be processed or challenge the supplier if quantities or price are incorrect. Once the POD is received we will match it to the order and if all ok then process the invoice for payment. A credit note may be issued by the supplier for price/qty queries and once the credit is agreed and received we will process the original invoice and credit accordingly.

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