IGLU.COM LIMITED

Company number: 03629676

Reporting period:
1 December 2021 to 31 May 2022

---

This report was filed on 30 June 2022

and approved by Lorna Vincent

Payment statistics

Average time taken to pay invoices: 14 days

Invoices paid:

• within 30 days: 96%
• in 31 to 60 days: 4%

Invoices due but not paid within agreed terms: 4%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

30 days

Standard payment terms

Our suppliers send invoices throughout the month, usually by email. Invoices from cruise and ski suppliers are due for payment circa 90 days before departure and processed on the prior week’s payment run. Any invoices for late bookings (within the circa 90 day period) are due on the booking date and will appear on the following week’s payment run statement. Invoices for flights are paid at time of booking or when ticketed. Invoices for hotels, transfers and ancillaries have various payment terms but generally require payment within 30 days. Overhead and marketing invoices generally have 30 day payment terms.

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

30 days

No further comment provided

Any other information about payment terms

Cruise and ski supplier invoices are generated at the time of booking and act as confirmation documents for our customers. The invoice is not due until payment is requested by the supplier. The supplier requests payment circa 90 days pre departure, either on statement or through ABTA SPS. The payment request dates are used for the calculations on this return.

Dispute resolution process

For cruise and ski supplier invoices, we have a dedicated team who will check the invoice against our records. If there are differences in costs, these will be discussed with the supplier. Often, our commercial and sales teams will assist in resolving matters. If it’s a supplier error, we receive a new invoice and payment will be made on the next payment run. Disputes on overhead and marketing invoices are dealt with by the department that ordered the goods or services, with the accounts team monitoring to ensure these are dealt with in a timely manner.

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.

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