AFH STORES UK LIMITED
Company number: 06423604
Reporting period:
3 August 2018 to 2 February 2019
Report filed on:
5 March 2019
Approved by:
MOLLERSTROM, Karin Anna Kristina
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 48%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 30%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
45 days
Standard payment terms
AFH Stores UK Limited's standard payment terms are 30 days for the majority of contracts and 45 days for a minority of contracts. The 30 day period is included in the standard Purchase Order terms for the UK. In written service agreements, AFH Stores UK Limited typically uses a 45 days period as standard.
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
45 days
N/A
Any other information about payment terms
The following statistics regarding the timing of payment invoices more accurately align with AFH Stores UK Limited's own payment practices (being primarily split between 30-day and 45-day payment periods).
Net 30 47%
Net 45 44%
45+ 9%
Dispute resolution process
Disputes are resolved directly through the vendor’s internal contact or by contacting the Accounts Payable department. Disputes are typically resolved within a week of inquiry. Escalations are directed to the Senior Finance Manager for resolution.
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.
Yes
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