LEVI STRAUSS (U.K.) LIMITED
Company number: 00892419
Reporting period:
27 May 2024 to 1 December 2024
Report filed on:
16 December 2024
Approved by:
Torsten Rath
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 52%
- in 31 to 60 days: 34%
- in 61 days or more: 14%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 55%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Standard terms are 60 days. Critical vendors such as rent and utilities are paid dependant upon agreed vendor terms. Where possible these are paid by direct debit. Terms do vary on occasion based on individual agreements with suppliers.
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
For invoices that relate to a Purchase Order, payment disputes are initially found during the 3 way match process. The Accounts Payable team will reach out to the business affiliate that raised the initial Purchase Requisition to determine whether the Purchase Order is incorrect or whether an adjustment is required by the vendor. Non PO invoices are sent out for review and approval prior to processing. Disputes could be handled by either the Levi business affiliate or by the Accounts Payable department.
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