HARRODS INTERNATIONAL LIMITED

Company number: 00676533

Reporting period:
4 February 2018 to 4 August 2018

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This report was filed on 11 September 2018

and approved by Michael Ward

Payment statistics

Average time taken to pay invoices: 35 days

Invoices paid:

• within 30 days: 9%
• in 31 to 60 days: 87%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 19%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

Merchandise Suppliers – 30 days Non Merchandise Suppliers – 60 days

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

75 days

No further comment provided

Any other information about payment terms

Invoices due will be paid the following Monday in line with Harrods’ weekly payment run as per agreed terms with our suppliers.

Dispute resolution process

Harrods International seeks to have a productive relationship with their suppliers. Should a dispute arise, their desire is to resolve matters by promptly addressing and discussing the issues. Harrods International endeavours to resolve disputes reasonably and fairly.

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