Industry ranking
The average time taken for BESTWAY NATIONAL CHEMISTS LIMITED to pay invoices to suppliers has been decreasing over the last three periods, from 48 days in 2019 to 39 days in 2022.
The volatility in the average time taken to pay invoices has been relatively low, with only a 2-day difference between the highest and lowest reported averages over the three periods.
In the first three periods, there was a steady improvement in BESTWAY NATIONAL CHEMISTS LIMITED's payment practices, with a decrease in the average time taken to pay invoices and an increase in the percentage of invoices paid within 30 days.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2022 - 30 Jun 2022 | 21 Jul 2022 | 39 | 72% | 2% | 26% | 2% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 41 | 66% | 3% | 31% | 41% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 41 | 64% | 4% | 32% | 4% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 41 | 64% | 4% | 32% | 5% |
| 01 Jan 2020 - 30 Jun 2020 | 21 Jul 2020 | 41 | 63% | 4% | 33% | 5% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 42 | 59% | 6% | 35% | 7% |
| 01 Jan 2019 - 30 Jun 2019 | 01 Aug 2019 |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Goods For Resale Wholesale is 30th month following invoice date (up to 60 days end of month ). Goods Not For Resale and Goods For Resale Retail is 60 Days End Of Month However, there are non-standard supplier payment terms which are shorter and longer than the standard terms.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
Supplier makes contact with buyer of goods/services in case of dispute. All queries are answered in a timely manner. Invoice is typically placed on hold until dispute has been resolved
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
BESTWAY NATIONAL CHEMISTS LIMITED is an active private limited company, incorporated on 18 September 2014, based in the North West region. Registered business activity: Dispensing chemist in specialised stores.
From Companies House records.