RIVER ISLAND CLOTHING CO. LIMITED
Company number: 00636095
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
28 July 2020
Approved by:
Majda Rainer
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 32%
- in 61 days or more: 13%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 30%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
River Island Clothing Co ltd Standard payment terms are as follows: Goods for Sale :Payment for these suppliers range between 14-60 days. Goods not for Sale: Payment terms for these suppliers are set at standard 14-30 days. Terms are set based on the agreements and type of particular good or service being offered with individual suppliers
Were there any changes to the standard payment terms in the reporting period?
14 day terms changed to 60 days 30 day terms changed to 60 days Dp Sight terms change to DA 60 days CAD 14 days terms changed to CAD 60 days
Were suppliers notified or consulted about these changes before they were made?
Email was sent out to Suppliers and alternatively calls were made to Supplier.
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Dispute concerning supplier invoice and payments are dealt with Centrally within Accounts Payable and managed through inbox . Concerned teams endeavour to resolve any issues or disputes in a timely manner to ensure payment terms are met
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 Fair 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