ASOS.COM LIMITED

Company number: 03584121

Reporting period:
1 March 2019 to 31 August 2019

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

This report was filed on 30 September 2019

and approved by Mathew Dunn

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

within 30 days: 24%
in 31 to 60 days: 46%
in 61 days or more: 30%

Invoices due but not paid within agreed terms: 53%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

60 days

Standard payment terms

ASOS.com Limited’s standard payment terms are: for stock, 60 days from the later of the date of invoice or the date the goods are received; for Free on Board stock, 14-60 days from the date the goods were on vessel; for non-stock, 30-60 days from date the invoice was received.

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

60 days

N/a

Any other information about payment terms

N/a

Dispute resolution process

All disputes are initially dealt with by Accounts Payable. Each supplier has an assigned representative who will contact the relevant Retail team, Logistics and business areas to resolve the query. Complaints are followed up within five days and escalated as appropriate. On resolution, the supplier will be paid in accordance with their payment terms or on the next payment run if payment is already due.

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.

Yes, this business has signed up to: Signatory to the ACT (Action Collaboration Transformation) Memorandum of Understanding on establishing freedom of association, collective bargaining and living wages within global supply chain value chains.

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.

Yes

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.

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?