DEBENHAMS RETAIL LIMITED
Company number: 00083395
Reporting period:
2 September 2018 to 2 March 2019
Report filed on:
28 March 2019
Approved by:
Rachel Osborne
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 41%
- in 61 days or more: 31%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 6%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
120 days
Standard payment terms
The Company has the following standard payment terms with its suppliers: Goods for re-sale up to 120 days from date of invoice, or receipt of invoice for non-UK based suppliers. Goods not for re-sale: up to 90 days from date of invoice. Terms may vary in accordance with individual agreements with suppliers.
Were there any changes to the standard payment terms in the reporting period?
Payment terms relating to certain geographical regions were changed.
Were suppliers notified or consulted about these changes before they were made?
The suppliers were notified of these changes.
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Debenhams offers a B2B website which suppliers can sign up to monitor account activity and view the status of invoices. Payment disputes are initially reported to the supplier management teams. The dispute can be further escalated to the team leader and finance manager of the supplier management teams and resolved with the appropriate action.
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