GOV.UK
WORLD OF RARE BOOKS LIMITED
Company number: 07465049
Reporting period:
1 May 2019
to 31 October 2019
This report was filed on 29 November 2019
and approved by Daniel Guttridge
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 98%
- in 31 to 60 days: 1%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 2 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
The standard payment terms relating to the supply of books for resale is 60 days from the date of invoice.
However due to the nature of the business there are also non-standard supplier payment terms which are shorter and longer than our preferred standard terms.
Excluding books, the standard terms relating to the supply of operations and logistical services to the company are 60 days from date of invoice. However there are non-standard supplier payment terms which are shorter and longer than the standard terms.
The company standard payment terms are 60 days. However, in certain circumstances, a supplier will seek to impose its own payment terms, and in other circumstances, a bespoke contract will be agreed.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
A small number of suppliers are paid 90 days from the end of the month in which an invoice is received.
Any other information about payment terms
N/A
Dispute resolution process
Resolution of disputes is handled on a case-by-case basis. The company seeks to resolve disputes 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 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