RIVER ISLAND CLOTHING CO. LIMITED
Company number: 00636095
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
31 January 2022
Approved by:
Majda Rainer
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 40%
- in 31 to 60 days: 54%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 24%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
120 days
Standard payment terms
Standard payment terms are as follows; Goods for sale: Payment of these suppliers range between 14-60 days Goods not for sale: Payment of these suppliers are set at 7-120 days Terms are set based on the agreements and type of goods or services being offered with individual suppliers
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
120 days
n/a
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes concerning supplier invoices and payments are dealt with centrally within Accounts Payable and managed through a central mailbox. Concerned teams endeavour to resolve any issues or disputes in a timely manner to ensure payment terms are met.
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 Fair 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.
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.
Yes
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