MORRISON BOWMORE DISTILLERS LIMITED
Company number: SC119227
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
8 January 2019
Approved by:
Michael Ord
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 96%
- in 31 to 60 days: 3%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 27%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Our system defaults to 30 days payment terms on set up, this is our most frequent used payment term. We only change this on instruction. Zero days for immediate payment and 60 days for intercompany or new account set up.
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
60 days
60 days payment terms for all vendor accounts paid within intercompany netting process. These terms have been applied to all new vendor accounts set up from September 2018
Any other information about payment terms
Payment terms of 0 days is to ensure these invoices are paid in the first payment run after posting to the account. These invoices are recorded in our figures as not paid on time.
Dispute resolution process
Invoices that do not clear the system for payment are logged and passed back to the account handler to investigate and advise a resolution. This log is updated daily and account handler is chased to clear invoices for payment runs
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