Company number: 07837246
and approved by Nick Arran
Average time taken to pay invoices: 33 days
Invoices paid:
Invoices due but not paid within agreed terms: 26%
0 days
60 days
Goods for resale - 30 days Goods not for resale - 30 days Rent 1-7 days This is with the exception, that some suppliers are on extended terms (60 days)
Answer not provided
N/A
90 days
N/A
Due to our inability to date track documents in to our business, we have had to use the supplier document date, as the basis for our statistics. This will go some way towards explaining the percentage of late payments. There are a large number of suppliers who are paid on a sell through basis, with payment terms of 7 days - leaving little time to turnaround queries, or issue payments when invoice submission is late. The data for this reporting period includes a number of weeks across the national lockdown where extended terms were negotiated with suppliers
GAME Retail Ltd values strong collaborative relationships across our supplier base, and we place high importance on ensuring queries are resolved in a timely manner. In the first instance vendors will raise a dispute with the Accounts Payable team. If the GAME/ supplier transactional teams are unable to resolve the query with the information provided it will then be escalated to the relevant Commercial contacts in both businesses for review.
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