This is a new service. Help us improve it and give your feedback (opens in new tab) .

JTF WHOLESALE LIMITED

Company number: 05660877

Reporting period:
26 March 2018 to 25 September 2018


This information is as reported by the business, and responses are in their own words.

This report was filed on 24 October 2018

and approved by John Hepworth

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

  • within 30 days: 30%
  • in 31 to 60 days: 48%
  • in 61 days or more: 22%

Invoices due but not paid within agreed terms: 45%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

We offer 3 payment terms to suppliers as a standard: 1. 30 Days - 2.5% Discount; 2. 60 Days - 1.0% Discount; 3. 90 Days - No Discount. We still have a number of suppliers on different terms either as a legacy or due to commercial requirement, including immediate payment, 7 days and 45 days. Work is ongoing to move these suppliers wherever possible to our standard terms.

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

90 days

No further comment provided

Any other information about payment terms

Where a supplier's payment terms are very short (e.g.immediate payment or 7 days), internal processes around receipt, authorisation, matching and processing of invoices may mean that some invoices are in effect paid late. This has a negative impact on the reported % of invoices not paid within agreed terms.

Dispute resolution process

Invoice queries (e.g.where the invoice does not match to the PO and GRN within pre-set acceptable tolerance) are passed to the relevant buyer to then resolve with the supplier. Our finance team have a generic e-mail address for accounts queries.

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