GOV.UK
TESCO DISTRIBUTION LIMITED
Company number: 02972724
Reporting period:
25 February 2019
to 25 August 2019
This report was filed on 24 September 2019
and approved by Robert Welch
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 65%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 8 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
45 days
Standard payment terms
For our larger suppliers - Greater than £100,000 (inclusive of VAT) of business with us each year - We have standardized payment terms across each category (30- 45 days).
For smaller suppliers – with up to £100,000 (inclusive of VAT) of business with us each year – payment terms will move to 14 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
NA
Any other information about payment terms
NA
Dispute resolution process
We manage all queries through an incident management tool and have a dedicated team to manage queries.
If there is a dispute, we would call/email the relevant vendors and follow up with an email to resolve. All queries raised by vendors are usually resolved within 3 days.
We have an escalation matrix which is shared with all vendors.
We conduct periodic governance on the performance of the query team to ensure that queries are resolved timely and satisfactorily, thereby ensuring a build-up of invoices on hold is avoided and vendors are paid accurately.
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.Yes – Prompt Payment code
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