Company number: 00641365
and approved by Adam Griggs
Average time taken to pay invoices: 59 days
Invoices paid:
Invoices due but not paid within agreed terms: 92%
0 days
90 days
Our large raw materials & footwear suppliers have payment terms ranging from 0 days, where up front deposits are required, to 90 days. The majority of our other suppliers are on 30 days terms, but with some temporarily extended to 90 days following the impact of the Covid 19 pandemic.
The terms with one of our main footwear suppliers were amended, following negotiations, to 30% up front with the balance paid on 90 days terms. Other payment terms have been amended during the period following the impact of the Covid 19 pandemic.
For those suppliers where terms were extended to 90 days, a formal letter was sent. Other amendments came about following formal negotiations between both parties
90 days
No further comment provided
N/A
Any disputes are dealt with in the first instance by either the Accounts Payable team or through the department that originally agreed the contract. If a resolution can not be found it is then escalated up to senior management and ultimately to the Directors.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No