MISSGUIDED LIMITED
Company number: 03235904
Reporting period:
30 March 2020 to 29 September 2020
Report filed on:
29 October 2020
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%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 57%
Payment terms
Shortest standard payment periods
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
Were suppliers notified or consulted about these changes before they were made?
N/A
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 Fair 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