WORLD BRANDS DUTY FREE LIMITED
Company number: 02754745
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 27 January 2021
and approved by Olivier Gasperin
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 64%
- in 31 to 60 days: 22%
- in 61 days or more: 14%
Invoices due but not paid within agreed terms: 53 %
Payment terms
Shortest standard payment period
60 days
Longest standard payment period
90 days
Standard payment terms
Standard days are 60 days, where there are changes to payment terms, the supplier will contact WBDF and finance will review, negotiate, and agree where required.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
The dispute resolution process is as follows: 1) Accounts Payable will be notified of a dispute either
from the supplier or the invoice approver.
2) Invoice will be put on hold while dispute is being resolved between the invoice approver and the
supplier.
3) Where required, WBDF legal department will be consulted where an invoice is in dispute
because the work was not delivered in line with contractual terms.
4) Once the matter is resolved and a resolution is agreed, the approved amount will be paid
accordingly.
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