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: 55 days

Invoices paid:

• within 30 days: 10%
• in 31 to 60 days: 30%
• in 61 days or more: 60%

Invoices due but not paid within agreed terms: 27%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

Most frequent term is 30 days

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

Some shorting of supplier terms - specifically from end of 2nd following month (approx. 90 days) to end of following month (approx. 60 days)

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

Constant liaison with suppliers

Maximum contractual payment period agreed

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Liaison with supplier in first instance to see if there is an error/issue. If un-resolvable between Accounts Payable Department and Supplier the dispute is escalated to the contact who manages the relationship with the supplier in order to resolve.

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.

Yes

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