WDFG UK LIMITED
Company number: 02872512
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
7 April 2024
Approved by:
Chris Bouttle
Payment statistics
Average time taken to pay invoices: 122 days
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 22%
- in 61 days or more: 63%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 98%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
120 days
Standard payment terms
Goods not for resale Except during Covid, Invoices are paid weekly mainly on 30 days terms, limited exceptions exist for landlords and utility companies Goods for resale Our payment terms are variable and dependent on agreements with individual suppliers, our average payment terms are 45-50 days with special arangements implemented during Covid. Validated and due invoices will be paid to the closest payrun to comply with these agreed timeframes. Payment runs are processed weekly, Covid excepted, with a BACS file ordinarily submitted on a Wednesday with the actual payment reaching our suppliers on the Friday
Were there any changes to the standard payment terms in the reporting period?
In full agreement with our suppliers, we put special arrangements in place to enable us cope with the economic downturn during the Covid pandemic
Were suppliers notified or consulted about these changes before they were made?
Yes, fully consulted throughout by phone and email etc
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoice queries are dealt with by our Accounts Payable team based in our Shared Services Centre in collaboration with our logistics personnel for quantity differences and our buying team for pricing queries. We deploy 3 way automatic matching throughout in conjunction with a workflow system which also assists in the resolution of disputed invoices.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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