HARRODS LIMITED
Company number: 00030209
Reporting period:
3 February 2019 to 3 August 2019
Report filed on:
28 August 2019
Approved by:
Michael Ward
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 65%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 24%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Merchandise suppliers 30 days. Non Merchandise 60 suppliers days
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
75 days
No further comment provided
Any other information about payment terms
Invoices due will be paid the following Monday in line with Harrods’ weekly payment run as per agreed terms with our suppliers.
Dispute resolution process
Harrods Limited seeks to have a productive relationship with their suppliers. Should a dispute arise, their desire is to resolve matters by promptly addressing and discussing the issues. Harrods Limited endeavours to resolve disputes reasonably and fairly.
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