BOOTS UK LIMITED
Company number: 00928555
Reporting period:
1 March 2019 to 31 August 2019
Report filed on:
27 September 2019
Approved by:
Mike Snape
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 24%
- in 61 days or more: 5%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
75 days
Longest standard payment period
Answer not provided
Standard payment terms
Boots standard settlement terms are 2.5% 75 days end of month. This means that payment will be made on the 75th day (or following business day should this fall on a weekend or public holiday) after the end of the month of invoice, with a deduction of 2.5% of the invoice value before VAT for payment made by that date.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
120 days
We have a small number of suppliers who we pay on agreed payment terms of 120 days due net. These suppliers are predominantly based, and provide goods from, the Far East and delivery is therefore made via sea freight. The agreed payment term on these contracts reflects the extended delivery times (i.e. the time it takes these vessels to reach the UK).
Any other information about payment terms
The average payment days for Boots UK is 32 which is lower than our standard reported terms due to: 1) The high volume of payments made to Group Companies, which are typically made on much shorter terms than third party suppliers and, 2) Suppliers on non-standard trading terms who have individually negotiated contracts
Dispute resolution process
Our purchase orders contain contact details (email and/or telephone) for the relevant helpdesk or department to which payment queries should be directed by suppliers. All queries are managed in accordance with our internal processes and dealt with as quickly as possible.
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 Fair 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