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LE CREUSET U.K. LIMITED

Company number: 00457936

Reporting period:
1 July 2022 to 31 December 2022

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This information is as reported by the business, and responses are in their own words.

This report was filed on 31 January 2023

and approved by Nick Ryder

Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

• within 30 days: 87%
• in 31 to 60 days: 10%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 12 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Unless otherwise agreed in advance with suppliers, standard payment terms are set at 30 days of receipt of a valid invoice

We would however look to reduce these to a minimum of 7 days to support our smaller independent suppliers
Supplier credit notes are utilised in line with their individual terms.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

365 days

We have annual billing paid by DD on a monthly basis
re: Councils and Business Rates, Car Charges etc.

Any other information about payment terms

N/A

Dispute resolution process

Every case is considered on an individual basis
Evidence is collected from both parties to support / query the charge

Communication is upheld with Supplier with regards to query with emphasis on resolving

Disputes for Le Creuset UK suppliers can be raised by emailing Finance.uk@lecreuset.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

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