QUALITY SPIRITS INTERNATIONAL LIMITED
Company number: 01994340
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
12 February 2024
Approved by:
Alex Davies
Payment statistics
Average time taken to pay invoices: 60 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 42%
- in 61 days or more: 36%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 78%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
45 days
Standard payment terms
Shortest: 14 days from date of invoice Longest: End of month following with 45 days being average days.
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
45 days
45 days being average days
Any other information about payment terms
Results have been calculated based on invoice date as our systems do not record the actual date the invoice was received by the business. A significant number of invoices in this company are from other group companies. Due to a change in systems in the year and a number of structural changes, the payment of group invoices was delayed
Dispute resolution process
In the first instance, all queries should be directed to the relevant business 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 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