TIGER RETAIL LIMITED
Company number: 05438600
Reporting period:
1 January 2018
to 31 December 2018
This report was filed on 6 April 2019
and approved by Adelaide Hartley
Payment statistics
Average time taken to pay invoices: 17 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 5%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 13 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
The majority of suppliers are on standard 30 day payment terms. Transport and logistics are on 60 day terms. Payments are made mid-month and last working day of the month. All approved invoices which are due are included in the next payment run.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
If there is a dispute, the invoice approvers will make a note in the Invoice Workflow system. Accounts Payable will then notify the supplier. It is the responsibility of the approvers (senior managers) to resolve the dispute.The Finance Director and Managing Director are normally informed and the system keeps an audit trail of the progress.
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