WH SMITH TRAVEL LIMITED

Company number: 06560378

Reporting period:
1 September 2017 to 28 February 2018

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This report was filed on 29 March 2018

and approved by Mark Boyle

Payment statistics

Average time taken to pay invoices: 46 days

Invoices paid:

• within 30 days: 51%
• in 31 to 60 days: 28%
• in 61 days or more: 21%

Invoices due but not paid within agreed terms: 17%

Payment terms

Shortest standard payment periods

90 days

Longest standard payment period

Answer not provided

Standard payment terms

Our standard payment terms are 90 days. We negotiate separate payment terms individually with suppliers and on a product specific basis. Our vendor buying agreement allows for the offset of amounts owed by the supplier against invoices owed to the supplier. This is normal business practice and protects amounts that are owed to us. An invoice is deemed settled when it is fully offset by amounts owed to us.

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

The business has an ongoing communication with suppliers through both the trading and the financial accounting teams. Payment disputes will be directed to the financial accounting teams for resolution in the first instance and will be escalated to the trading teams where there is a contractual query.

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