HARRODS INTERNATIONAL LIMITED
Company number: 00676533
Reporting period:
4 February 2018 to
4 August 2018
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