IG DESIGN GROUP UK LIMITED

Company number: 02265899

Reporting period:
1 April 2019 to 30 September 2019

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This report was filed on 13 January 2020

and approved by Robert Alstead

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

• within 30 days: 17%
• in 31 to 60 days: 43%
• in 61 days or more: 40%

Invoices due but not paid within agreed terms: 76%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

The most frequently used payment terms for qualifying contracts is 30 days

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

No further comment provided

Any other information about payment terms

The payment terms published here are based on more prudent estimations, using an allocation date rather than date the payment left the bank account. In addition, we have reciprocal terms with many of our suppliers, outside of our ordinary payment terms with them, that allow us to be more flexible with our payments.

Dispute resolution process

If a Supplier has a query or dispute they should send an email to: accountspayable@igdesigngroup.com all supplier disputes and queries would be directed to accounts payable who will work with the supplier to reach a resolution. We attempt to resolve all disputes within 30 days.

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