GOV.UK
PORSCHE RETAIL GROUP LIMITED
Company number: 00220221
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 31 July 2019
and approved by Ade Smith
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 80%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 1 %
Payment terms
Shortest standard payment period
31 days
Longest standard payment period
61 days
Standard payment terms
Porsche Retail Group Limited, as standard, pays all its suppliers and distributors no later than the last day of the month following the month in which the relevant undisputed invoice is received by Porsche Retail Group i.e. between 31 and 61 days from receipt.
Variations to these standard payment terms are by exception only, and only applied when negotiated and agreed by both parties.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
61 days
na
Any other information about payment terms
na
Dispute resolution process
If at any time any question, dispute or difference arises between Porsche Retail Group and its supplier, typically under contract the parties are obliged to escalate the dispute to senior representatives of the parties who shall use their reasonable endeavours to resolve the dispute in good faith within 30 days of the date on which such dispute was referred to them. For Porsche Retail Group, the escalation point would be the current Procurement specialist.
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