STEINHOFF UK RETAIL LIMITED

Company number: 00040754

Reporting period:
1 October 2017 to 31 March 2018

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This report was filed on 30 April 2018

and approved by Mark Jackson

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

• within 30 days: 14%
• in 31 to 60 days: 81%
• in 61 days or more: 5%

Invoices due but not paid within agreed terms: 35%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

Non Stock purchases - End of Month. Stock purchases - End of Month Following

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

A handful of Suppliers decreased the T&C's due to issues over credit assurance.

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

Regular consultations with Directorate and Supplier. All cases incurred were instigated by Supplier directly.

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Concern / dispute will be investigated by our Finance department in consultation with both the Supplier and our own Buying and Merchandising Department for Stock purchases or other relevant department for non stock purchases.

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