THOMAS COOK GROUP PLC

Company number: 06091951

Reporting period:
1 October 2017 to 31 March 2018

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This report was filed on 30 April 2018

and approved by William James Scott

Payment statistics

Average time taken to pay invoices: 88 days

Invoices paid:

• within 30 days: 8%
• in 31 to 60 days: 17%
• in 61 days or more: 75%

Invoices due but not paid within agreed terms: 80%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

Thomas Cook Group plc represents the Thomas Cook Group parent company only, i.e. solely the corporate Head Office, and not the consolidated Group. This data therefore relates to less than 1% of all Thomas Cook payments made in the UK. Standard payment terms are 60 days. The longest contractual payment terms used are 90 days.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

Thomas Cook Group plc represents the Thomas Cook Group parent company only, i.e. solely the corporate Head Office, and not the consolidated Group. This data therefore relates to less than 1% of all Thomas Cook payments made in the UK.

Any other information about payment terms

Thomas Cook Group plc represents the Thomas Cook Group parent company only, i.e. solely the corporate Head Office, and not the consolidated Group. This data therefore relates to less than 1% of all Thomas Cook payments made in the UK.

Dispute resolution process

All invoice queries are dealt with by the Accounts Payable teams that have central helpdesk functions. Disputed items are escalated to appropriate Management as necessary.

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.

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