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ZIFFIT LTD

Company number: 07464659

Reporting period:
1 November 2017 to 30 April 2018


This information is as reported by the business, and responses are in their own words.

This report was filed on 29 May 2018

and approved by Graham Richard Bell

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

  • within 30 days: 87%
  • in 31 to 60 days: 13%

Invoices due but not paid within agreed terms: 2%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

The standard payment terms relating to the supply of books and media for resale by our corporate partners is 60 days from the date of invoice. Books and media acquired for resale direct from consumers is paid within three days of receiving and processing the product. However due to the nature of the business there are also non-standard supplier payment terms which are shorter and longer than our preferred standard terms. Excluding books and media, the standard terms relating to the supply of operations and logistical services to the company are 60 days from date of invoice. However there are non-standard supplier payment terms which are shorter and longer than the standard terms. The company standard payment terms are 60 days. However, in certain circumstances, a supplier will seek to impose its own payment terms, and in other circumstances, a bespoke contract will be agreed.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

A very small number of suppliers are paid 90 days from the end of the month in which an invoice is received.

Any other information about payment terms

N/A

Dispute resolution process

Resolution of disputes is handled on a case-by-case basis. The company seeks to resolve disputes as quickly as possible.

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, 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