GOV.UK
SHOP DIRECT FINANCE COMPANY LIMITED
Company number: 04660974
Reporting period:
1 January 2023
to 30 June 2023
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 2 August 2023
and approved by Ben Fletcher
Payment statistics
Average time taken to pay invoices: 62 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 28%
- in 61 days or more: 50%
Invoices due but not paid within agreed terms: 64 %
Payment terms
Standard payment period for qualifying contracts
90 days
Standard payment terms
standard payment terms are 90 days from date of invoice but this is negotiable. Payment is made on the next available payment run following the due date.
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
Any payment disputes are dealt with in the first instance by the P2P Team through a dedicated mailbox with an SLA of 72 hours for resolution. If the matter remains unresolved it will be escalated to senior management. Ultimately the matter may go to arbitration with a mutually agreed arbitrator.
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