LUXOTTICA RETAIL UK LTD

Company number: 02767938

Reporting period:
1 July 2018 to 31 December 2018

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This report was filed on 30 January 2019

and approved by J Williams

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 82%
• in 31 to 60 days: 14%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 81%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

270 days

Standard payment terms

The company does not operate a standard payment term but the most common term applied is 30 days net.

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

270 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Payments are managed by our Global Business Services team in Italy. In the first instance payment queries are referred to the accounts payable team in Italy. In case of dispute this will be referred back to the person contracting for the goods or service in the UK who will liaise with the vendor to resolve the issue and get the account settled.

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