TREK BICYCLE CORPORATION LIMITED

Company number: 02355933

Reporting period:
28 June 2020 to 2 January 2021

---

This report was filed on 30 January 2021

and approved by Chad Brown

Payment statistics

Average time taken to pay invoices: 55 days

Invoices paid:

• within 30 days: 44%
• in 31 to 60 days: 29%
• in 61 days or more: 28%

Invoices due but not paid within agreed terms: 38%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

270 days

Standard payment terms

The company policy is 60 days payment term and 90 days for inventory

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

270 days payment term is applied for council tax and this is paid via monthly installment

Any other information about payment terms

N/A

Dispute resolution process

AP report is reviewed weekly and any invoices older than 60 days are actioned on suppliers basis. Invoices are reconciled based on the suppliers statements for key suppliers. Dedicated AP support is available Remittance is provided up on payments and the contact details also there.

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, 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.

Yes

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