PRADA RETAIL UK LIMITED

Company number: 03299599

Reporting period:
1 July 2019 to 31 December 2019

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This report was filed on 25 February 2020

and approved by Francesca Bertoncini

Payment statistics

Average time taken to pay invoices: 120 days

Invoices paid:

• within 30 days: 5%
• in 31 to 60 days: 8%
• in 61 days or more: 87%

Invoices due but not paid within agreed terms: 20%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

120 days

Standard payment terms

local suppliers payment terms are typically 30 days from date of invoice

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

120 days

intercompany purchases and overseas suppliers payment terms are typically 90 days. This makes up the bulk of the company's payables

Any other information about payment terms

N/A

Dispute resolution process

Prada Retail UK has a dedicated accounts payable team with contact points for suppliers. In case of disputes suppliers can liaise with accounts payable staff or directly with the purchasing contact to resolve any issues.

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