KINGFISHER INFORMATION TECHNOLOGY SERVICES (UK) LIMITED
Company number: 02016021
Reporting period:
1 February 2020 to 31 July 2020
Report filed on:
26 August 2020
Approved by:
Garry Porter
Payment statistics
Average time taken to pay invoices: 57 days
Invoices paid:
- within 30 days: 42%
- in 31 to 60 days: 38%
- in 61 days or more: 20%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
21 days
Longest standard payment period
120 days
Standard payment terms
From receipt of a valid invoice: Goods not for Resale (GNFR) contracts = 60 days Small Businesses = 30 Days Intercompany Payments = 21 Days after the period end
Were there any changes to the standard payment terms in the reporting period?
Payment terms discussed with and extended for large vendors regarding cash management around the initial stages of the pandemic.
Were suppliers notified or consulted about these changes before they were made?
Changes were only made in agreement with vendors.
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
The first point of contact should be with the Accounts Payable Team. Email: AccountsPayableHelpdesk@kingfisher.com Tel: 0330 678 0876 The Accounts Payable team will escalate to the either KITS Procurement or KITS Finance if there are any disputes they are unable to resolve Tel: 0330 678 0876
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