KURT GEIGER LIMITED
Company number: 00968046
Reporting period:
28 January 2018 to 27 July 2018
Report filed on:
24 August 2018
Approved by:
Dale Christilaw
Payment statistics
Average time taken to pay invoices: 61 days
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 41%
- in 61 days or more: 44%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 26%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
90 days
Standard payment terms
Kurt Geiger Limited’s standard payment period is 60-days from the reference date and subject to a standard payment cycle. The reference date will vary depending on the nature of the underlying supply of goods and the contractual arrangements regarding delivery of those goods or services. The broad categories relate to provision of goods and services which are due from invoice date in the absence of a separate payment cycle agreed in the underlying contract (for example such as rent), or goods manufactured for re-sale. The reference point for the provision of goods manufactured for re-sale is based on the underlying agreement with the supplier which can vary from receipt of goods at a specified destination, to a consignment arrangement, whereby the amount due is linked to resale value over the course of a season, following which payment becomes due. A settlement discount is typically agreed in respect of the provision of goods for resale
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Payment disputes raised by suppliers are directed either to the person/department responsible for the purchase or the Accounts payable team. The aim is to resolve all queries as quickly as possible. Where there are disputes on quantity or quality of the products ordered, the supplier will be informed as soon as Kurt Geiger accounts payable team is made aware of the issue.
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