GOV.UK
LANDS' END EUROPE LIMITED
Company number: 02583731
Reporting period:
1 August 2020
to 30 January 2021
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 11 February 2021
and approved by Toby Clarke
Payment statistics
Average time taken to pay invoices: 9 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 46%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 3 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
Our Standard payment terms with our suppliers are 30 days.
Were there any changes to the standard payment terms in the reporting period?
Yes – We have gone paperless since November 2020. Meaning we have gone away with paper invoices. More of our supplier now email or we have signed up to e-billing.
Were suppliers notified or consulted about these changes before they were made?
Yes – Yes we emailed suppliers of our aim tom go paperless.
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
We consult with suppliers in a timely manner if we have a queries with billing.
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.
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