LULULEMON ATHLETICA UK LTD
Company number: 07655911
Reporting period:
1 February 2021 to 31 July 2021
Report filed on:
4 September 2024
Approved by:
James Sweeting
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 67%
- in 31 to 60 days: 19%
- in 61 days or more: 14%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 45%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The business’ standard payment terms are net 30.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The Accounts Payable team handles all supplier disputes and concerns on a case-by-case basis. The Accounts Payable team may reach out to the lululemon business partner who owns the relationship with the supplier or a member of the lululemon Accounting team for assistance and information to resolve the dispute. Claims of unpaid invoices is checked in our systems to verify status. If the invoice is paid, we provide the supplier with additional proof of payment (suppliers receive remittances automatically when a payment is processed). If the invoice is unpaid, the team investigates the situation and processes due payment in the next pay run.
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