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VICTORIA'S SECRET UK LIMITED

Company number: 07279467

Reporting period:
4 August 2018 to 2 February 2019

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

This report was filed on 21 February 2019

and approved by Mark Koenig

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

• within 30 days: 31%
• in 31 to 60 days: 60%
• in 61 days or more: 9%

Invoices due but not paid within agreed terms: 21 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

45 days

Standard payment terms

Standard contractual terms for goods and services is 45 calendar days.
Real Estate Landlords are paid in advance of when rent is due or when the invoice is received. Other vendors are paid based on their contractual terms, between 0 and 45 calendar days.
Victoria’s Secret UK Limited does not make payments before they are due (with the exception of real estate landlords). Payments are made once per week.

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

No

Maximum contractual payment period agreed

45 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

The main point of contact for settling disputes are Victoria’s Secret UK Limited associates who are directly responsible for procuring and working with the vendor. These associates will reach out to the vendor for any questions or disputes.

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