MADE.COM DESIGN LTD

Company number: 07101408

Reporting period:
1 July 2019 to 31 December 2019

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This report was filed on 30 January 2020

and approved by Adrian Evans

Payment statistics

Average time taken to pay invoices: 38 days

Invoices paid:

• within 30 days: 45%
• in 31 to 60 days: 42%
• in 61 days or more: 13%

Invoices due but not paid within agreed terms: 47%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

The average standard payment terms for Made.com Design Ltd depends on the type of supplier: - for overhead suppliers it is 30 days from date of invoice which makes up of 54% of invoices - for stock suppliers the standard payment terms vary from 0 days (immediate payments) up to 90 days

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

Answer not provided

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

N/A

Maximum contractual payment period agreed

90 days

no

Any other information about payment terms

N/A

Dispute resolution process

Suppliers are contacted and advised there is an issue with the invoice. The person responsible for dispute resolution is usually the business representative who has a direct relationship with the supplier and ordered the goods/services from them directly. If it cannot be resolved in a timely manner, then the dispute would be taken over by the director/head of department.

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.

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