COAST FASHIONS LIMITED
Company number: 06822210
Reporting period:
25 February 2018
to 24 August 2018
This report was filed on 19 September 2018
and approved by Sanam Soufipour
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 19%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 19 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
Coast Fashions Ltd operates to a set of standard payment terms, which are the next payment run before the end of credit period: 60 days for goods for re-sale and 30 days for non-goods for re-sale, variations to these terms to exist based on agreements with certain suppliers.
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
Coast Fashions policy is to pay its suppliers on time in line with the agreed terms. If a dispute is raised, it is forwarded to the relevant department to be considered. Payment of invoice is held with suppliers knowledge until dispute is resolved. Payment is processed immediately when dispute is resolved.
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