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GIRAFFE CONCEPTS LIMITED

Company number: 03442265

Reporting period:
1 July 2018 to 30 December 2018

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

This report was filed on 31 January 2019

and approved by Simon D'Cruz

Payment statistics

Average time taken to pay invoices: 55 days

Invoices paid:

• within 30 days: 7%
• in 31 to 60 days: 56%
• in 61 days or more: 37%

Invoices due but not paid within agreed terms: 18 %

Payment terms

Standard payment period for qualifying contracts

0 days

Standard payment terms

The company does not have standard payment terms. Agreements vary by supplier but typically range from 30 days to end of the month following the date of invoice (45 days average).

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

77 days

A small number of core suppliers operate on terms whereby payment is due up to 45 days after the month end of the date of invoice, therefore the maximum is 77 days.

Any other information about payment terms

N/A

Dispute resolution process

The company has an accounts payable department (which can be contacted by email or phone) that facilitates liaison with the supplier and business to resolve and issues.

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

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