DEXTERS LONDON LIMITED
Company number: 04160511
Reporting period:
1 October 2017 to
31 March 2018
This report was filed on 30 April 2018
and approved by Adrian Finneran
Payment statistics
Average time taken to pay invoices: 14 days
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 6%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 16%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Standard contractual terms for goods and services is 30 days. For certain specialist suppliers the standard contractual terms around 14 days. Separate payment terms can be agreed individually with suppliers on a product specific basis.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
In relation to the 16% of invoices noted as being paid beyond terms we would like to clarify the following: Approximately 50% of the invoices were in fact paid within 7 days of the due date and a large portion of the remaining invoices were either in dispute or there were delays in them being submitting to us which as a result would leave a shortened processing period from receipt to the payment due date.
Dispute resolution process
The main point of contact for invoice disputes is the Company Accounts Department of Dexters London Limited. When a purchase invoice is disputed the supplier will be contacted by Company Accounts, or by the delegated relevant department, to explain the issue or query. To resolve a dispute the supplier should provide any necessary information such as a corrected invoice or evidence to show they have met the conditions of the contract. Immediately after resolution the invoice would be processed for payment at the earliest possible opportunity as the company strives to maintain excellent working relationships and partnerships with all suppliers.
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.
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