IG DESIGN GROUP UK LIMITED

Company number: 02265899

Reporting period:
1 October 2019 to 31 March 2020

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This report was filed on 1 May 2020

and approved by Robert Alstead

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

• within 30 days: 14%
• in 31 to 60 days: 41%
• in 61 days or more: 45%

Invoices due but not paid within agreed terms: 83%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

The payment terms published here are based on more prudent estimations, using an allocation date rather than the date the payment left the bank account. In addition we have reciprocal terms with many of our suppliers, outside of our ordinary payment terms with them, that allow us to be more flexible with our payments.

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 further comment provided

Any other information about payment terms

N/A

Dispute resolution process

If a supplier has a query or dispute they should email accountspayable@igdesigngroup.uk.com All supplier dispute and queries would be directed to accounts payable who will work with the supplier to reach a resolution. We attempt to resolve all disputes within 30 days

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