ADIDAS (U.K.) LIMITED
Company number: 01075951
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
29 July 2022
Approved by:
Paul Kiely
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 63%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
60 days
Standard payment terms
Adidas UK LTD's standard payment terms for the majority of its suppliers are 60 days from the date on which the invoice was received.
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
60 days
Currently our way of working does not consider the length of time taken for payment to clear into the supplier's bank account. If we exclude the assumption of how long it takes funds to clear, we would move to 16% of invoices not paid within the agreed terms. We are considering changes in our process to take this into account.
Any other information about payment terms
N/A
Dispute resolution process
Adidas UK LTD advises that all invoices must contain a Purchase order number which is given to suppliers by our procurement team once the order is approved. This purchase order contains a section that details whom to contact with queries and the email address aukaccountspayable@adidas.com
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