A B GRAPHIC INTERNATIONAL LIMITED
Company number: 00538043
Reporting period:
1 November 2022
to 30 April 2023
This report was filed on 25 May 2023
and approved by Ian Melbourne
Payment statistics
Average time taken to pay invoices: 59 days
Invoices paid:
- within 30 days: 8%
- in 31 to 60 days: 51%
- in 61 days or more: 41%
Invoices due but not paid within agreed terms: 58 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms are 60 days net monthly or 30 days net monthly.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
The majority of suppliers are paid once a month within eight working days following the month-end. The company uses this additional time to ensure that invoice queries are resolved and settlement of the full account is made. For the purposes of the above statistics these have been treated as being paid outside of the agreed terms.
Adjusting for this timing difference, 96% of invoices are paid within the agreed terms. Those not paid within terms are typically due to unresolved queries by the supplier, late or early delivery of product.
Any other information about payment terms
N/A
Dispute resolution process
Suppliers are notified directly of any invoicing queries preventing payment when identified. Once the query has been cleared the invoice is included on the next available payment run.
Queries and disputes are initially dealt with by the Accounts Payable team. The supplier can escalate any disputes through their assigned Purchasing Department contact.
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