WATCHES OF SWITZERLAND COMPANY LIMITED
Company number: 00146087
Reporting period:
30 April 2018 to 28 October 2018
Report filed on:
23 November 2018
Approved by:
D Donnelly
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 35%
- in 31 to 60 days: 42%
- in 61 days or more: 23%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 44%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
120 days
Standard payment terms
The company has negotiated payment terms between 7 and 120 days with all product suppliers targeted at 60 days minimum.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
100 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The Watches of Switzerland Company Limited's Accounts Payable team offer support through to query resolutions to all suppliers. The team can be contacted by email, letter, or telephone and each supplier has a dedicated representative for their account.
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