LOTUS INTERNATIONAL LIMITED

Standard payment terms

97% of purchase payment is to airlines though IATA BSP automated payment system with cash taken 15 days from BSP invoice. Of remainder almost all paid by credit card.

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

No information available

Any other information about payment terms

Failure to observe standard industry payment terms is not possible with BSP and in other areas would result in non supply of services.

Maximum contractual payment period agreed

15

Has this business signed up to a code of conduct or standards on payment practices?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

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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.

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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.

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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?

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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available