LIDL GREAT BRITAIN LIMITED
Company number: 02816429
1 September 2019
to 29 February 2020
This report was filed on 31 March 2020
and approved by Dirk Kahl
Average time taken to pay invoices: 48 days
- within 30 days: 23%
- in 31 to 60 days: 61%
- in 61 days or more: 16%
Invoices due but not paid within agreed terms: 6 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Non Merchant : 30 days from receipt of invoice.
Payment terms for merchant suppliers may vary as per individual agreement. In general the calculation of the due date starts with receipt of goods and a correct invoice. Credit balances, which are due on the date of a payment run, are offset against payments to the supplier.
Payments are made by electronic transfer.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Payment runs are carried out on a daily basis. Invoices which will become due on a weekend or a bank holiday are included in the payment run on the working day proceeding the weekend or bank holiday.
Dispute resolution process
Lidl is committed to treating all business partners fairly and to pay them according to the agreed contractual terms. We ensure that our invoices include contact details for our Accounts department to allow our suppliers to get in touch easily. In the unusual event of a dispute arising, the supplier then has contact details for the accounting team to address any concerns. If a swift solution cannot be agreed, the issue is escalated to the responsible Buying team to resolve.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?