PRET A MANGER (USA) LIMITED
Company number: 03836164
Reporting period:
29 June 2018 to 3 January 2019
Report filed on:
31 January 2019
Approved by:
Clive Schlee
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 63%
- in 31 to 60 days: 36%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 78%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Pret A Manger (USA) Ltd typically utilises payment terms of 30 days. Pret A Manger (USA) Ltd trades in the USA and accordingly the majority of suppliers are suppliers based in the USA and out of scope for Payment Practices Reporting. Those that are based in the UK and reported in the statistics above are the exception with 245 invoices across 10 suppliers, representing only 0.3% of the total invoice volume processed by Pret A Manger (USA) Limited. Average days to pay for these invoices in scope was 27 days from date of receipt.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Pret A Manger's accounts payable team are responsible for processing supplier invoices, matching to purchase orders, and handling dispute resolution. The team can be contacted by email, telephone or letter, and aim to proactively manage any query from suppliers. Where this query results in dispute, this is escalated within the finance team and within the business contact managing the supplier relationship.
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