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PORSCHE RETAIL GROUP LIMITED

Company number: 00220221

Reporting period:
1 January 2018 to 30 June 2018

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

This report was filed on 26 July 2018

and approved by Frank Angelkoetter

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

• within 30 days: 19%
• in 31 to 60 days: 78%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 4 %

Payment terms

Shortest standard payment period

31 days

Longest standard payment period

61 days

Standard payment terms

Porsche Retail Group Ltd as standard pays all its suppliers no later than the last day of the month following the month in which the relevant undisputed invoice is received by Porsche Retail Group i.e. between 31 and 61 days from receipt.
Variation to these standard payment terms are by exception only, and only applied when negotiated and agreed by both parties.

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

No

Maximum contractual payment period agreed

61 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

If a dispute arises between Porsche Retail Group and its supplier, under contract the parties are obliged to escalate the dispute to senior representatives of the parties to resolve the dispute. For Porsche Retail Group, the escalation point would be the current Procurement Specialist.

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