DREAMS LIMITED

Company number: 08428347

Reporting period:
2 July 2018 to 24 December 2018

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This report was filed on 24 January 2019

and approved by Kim Zaheer

Payment statistics

Average time taken to pay invoices: 65 days

Invoices paid:

• within 30 days: 5%
• in 31 to 60 days: 39%
• in 61 days or more: 55%

Invoices due but not paid within agreed terms: 14%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

90 days

Standard payment terms

Standard terms for stock suppliers are end of second month following. All other suppliers standard terms are end of month following.

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

N/A

Dispute resolution process

In case of a dispute the supplier should contact the Accounts Payable team at PurchaseLedgerTeam@dreams.co.uk and the query will be directed to the accounts assistant responsible for that supplier. If the query requires further escalation it would be sent to the buyer holding the relationship with that supplier. We do request all suppliers to send their invoices in a pdf format to PurchaseLedger@dreams.co.uk for processing quoting a purchase order number once the order is placed. Details of our terms and conditions are sent to each supplier on account set up and as and when updated.

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.

Yes

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