SPECSAVERS OPTICAL SUPERSTORES LIMITED
Company number: 01721624
Reporting period:
1 September 2018 to 28 February 2019
Report filed on:
28 March 2019
Approved by:
FB Fussey
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 21%
- in 61 days or more: 13%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 67%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
60 days
Standard payment terms
Payment terms range per supplier, from on receipt to the 30th of the following month from invoice date. Due to contractual obligations, Rent payments are made on lease agreements, as supposed to invoice receipt and retrospectively invoices are requested
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Specsavers Optical Superstore Limited disputes are handled and resolved via it's Cost Centre Managers who have direct engagement with Suppliers. Invoices are held for payment until any dispute is resolved and confirmed by the Cost Centre Manager, who informs Accounts Payable to release payment.
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