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WORLD BRANDS DUTY FREE LIMITED

Company number: 02754745

Reporting period:
1 January 2020 to 30 June 2020

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This information is as reported by the business, and responses are in their own words.

This report was filed on 30 July 2020

and approved by Olivier Gasperin

Payment statistics

Average time taken to pay invoices: 50 days

Invoices paid:

• within 30 days: 37%
• in 31 to 60 days: 32%
• in 61 days or more: 31%

Invoices due but not paid within agreed terms: 68 %

Payment terms

Shortest standard payment period

60 days

Longest standard payment period

90 days

Standard payment terms

Where there are changes to payment terms, the supplier will contact WBDF and finance will review, negotiate, and agree where required.

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

No

Maximum contractual payment period agreed

90 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

The dispute resolution process is as follows: 1) Accounts Payable will be notified of a dispute either
from the supplier or the invoice approver.
2) Invoice will be put on hold while dispute is being resolved between the invoice approver and the
supplier.
3) Where required, WBDF legal department will be consulted where an invoice is in dispute
because the work was not delivered in line with contractual terms.
4) Once the matter is resolved and a resolution is agreed, the approved amount will be paid
accordingly.

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

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