FITFLOP LIMITED
Company number: 06436347
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 9 August 2018
and approved by Joanna Ansell
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 43%
- in 31 to 60 days: 44%
- in 61 days or more: 13%
Invoices due but not paid within agreed terms: 65 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
90 days
Standard payment terms
Payment terms may vary depending on the type contract, the business aim to negotiate a standard payment term of 60 days for all contracts.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Complaints and disputes should be raised with the department who originally worked on agreeing the contract. The complaint or concern will be reviewed and escalated to a line manager if needed to decide on the best course of action.
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
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