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CARPETRIGHT PLC

Company number: 02294875

Reporting period:
30 April 2017 to 28 October 2017

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

This report was filed on 22 February 2018

and approved by Neil Page

Payment statistics

Average time taken to pay invoices: 51 days

Invoices paid:

• within 30 days: 41%
• in 31 to 60 days: 9%
• in 61 days or more: 50%

Invoices due but not paid within agreed terms: 52 %

Payment terms

Shortest standard payment period

14 days

Longest standard payment period

120 days

Standard payment terms

Carpetright Plc does not have standard payment terms but is cognisant of terms defined in individual contracts with suppliers, which may vary. Our standard policy is to initiate payments at the end of the month (EOM) following the month of receipt of the invoice, unless otherwise dictated by the contract.
The most common payment terms of invoices paid during the reporting period were 21 days net, 30 days EOM, 60 days EOM, and 90 days EOM.

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

No

Maximum contractual payment period agreed

120 days

Any other information about payment terms

N/A

Dispute resolution process

Details of the companies dispute resolution process is set out on our corporate website, link as follows:

http://www.carpetright.plc.uk/governance/payment-performance-reporting-dispute-resolution/

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.

Yes

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