BAKKAVOR FOODS LIMITED
Company number: 01060806
Reporting period:
28 June 2020 to
26 December 2020
This report was filed on 29 January 2021
and approved by Agust Gudmundsson
Payment statistics
Average time taken to pay invoices: 63 days
Invoices paid:
- within 30 days: 13%
- in 31 to 60 days: 42%
- in 61 days or more: 45%
Invoices due but not paid within agreed terms: 61%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
120 days
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?
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?
All changes to payment terms are agreed with the relevant supplier
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
N/A
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.
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.
Yes
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