JACOBS DOUWE EGBERTS GB LTD
Company number: 00999990
Reporting period:
1 January 2022 to
30 June 2022
This report was filed on 26 July 2022
and approved by Dave Jones
Payment statistics
Average time taken to pay invoices: 86 days
Invoices paid:
- within 30 days: 10%
- in 31 to 60 days: 26%
- in 61 days or more: 64%
Invoices due but not paid within agreed terms: 50%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
For small businesses, a maximum payment term of 30 days is applied (a small business is classed as those with less than 50 FTE’s and a turnover of less than €10 million). The company has a standard payment term of 90 days from invoice date (based on certain parameters) For large companies with whom JDE has a long standing relationship and based on mutual agreement, payment terms can go up to 180 days or more.
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
240 days
No further comment provided
Any other information about payment terms
Of the 50% of invoices paid beyond agreed terms, 72% of these invoices are paid within 7 days of the due date and the reason for this is we currently only complete one payment run a week with payments to reach the suppliers by Friday. We pull through all due invoices for the following Monday which means we are paying some invoices late (if due Tuesday-Thursday), some invoices on time (if due on Friday) and some invoices early (if they are due Saturday-Monday).
Dispute resolution process
Supplier queries are to be e-mailed to the Global Transaction Center Front Office, which is a help desk solution. A ticket number will be applied to the query for tracking by the transactional finance team.
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.
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