Company number: 00162636
3 October 2022
to 1 April 2023
This report was filed on 26 April 2023
and approved by Ian Brimicombe
Average time taken to pay invoices: 34 days
- within 30 days: 62%
- in 31 to 60 days: 29%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 20 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Other than in exceptional circumstances, Burberry’s standard payment terms are between 30 and 60 days from the date of receipt of a valid invoice.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
As part of our ongoing efforts to pay our vendors on time we are pleased to confirm that in this reporting period: (i) 80% of payments made by Burberry were paid within the agreed payment period and (ii) from the date of receipt of a valid invoice an average of 34 days was taken to make a payment to our vendors.
Any other information about payment terms
Our standard payment period remains between 30 and 60 days from the date of receipt of a valid invoice.
Dispute resolution process
Disputes can be raised by suppliers to Burberry by emailing the UK accounts payable mailbox UK.AccountsPayable@burberry.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.
Yes – Prompt Payment Code
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?