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MISSGUIDED LIMITED

Company number: 03235904

Reporting period:
30 March 2020 to 29 September 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 29 October 2020

and approved by Nitin Passi

Payment statistics

Average time taken to pay invoices: 44 days

Invoices paid:

• within 30 days: 41%
• in 31 to 60 days: 34%
• in 61 days or more: 25%

Invoices due but not paid within agreed terms: 57 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

75 days

Standard payment terms

45 days from date of invoice for all suppliers other than FOB stock suppliers where standard terms are 60 days from Bill of Lading

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

No

Maximum contractual payment period agreed

75 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Missguided has a process in place for resolving disputes relating to payment. In the event of a dispute, the Accounts Payable Team would notify the supplier either verbally or in writing of the existence and nature of the dispute and seek to agree a credit note or alternative resolution so that a payment can be made. Resolution time would be expected to be within 7 to 14 days depending on the nature of the dispute so supplier payment terms could still be met. The Accounts Payable email is accountspayable@missguided.com

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