Company number: 02655347
and approved by Jonathan Neil BLANCHARD
Average time taken to pay invoices: 71 days
Invoices paid:
Invoices due but not paid within agreed terms: 53%
30 days
90 days
We pay 30 days as standard for overheads suppliers and our standard terms are 60 days ex factory for stock suppliers. In response to COVID-19 we mutually agreed with our stock suppliers to extend our payment terms to 90 days. We will revert back to 60 days as soon as is practicable. For stock suppliers, payment terms generally begin from the goods leaving the factory though payments are subject to goods received into our warehouse and clearing quality control. Payment is not automatically issued after 30 days, the supplier must provide a statement to the Accounts Payable department which is reconciled. Payments are then made every Friday for invoices that have fallen due.
Answer not provided
N/A
90 days
Period from goods leaving the factory.
N/A
Complaints and disputes should be raised initially with the Accounts Payable department in our Beckton office via email or telephone. A complaint will be picked up by a specific member of staff, depending on the type of supplier, on receipt and where it cannot be resolved the complaint will be escalated in the first instance to the Purchase Ledger Manager and then to the Financial Controller if required.
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