MYCITYDEAL LIMITED
Company number: 07112363
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
16 January 2020
Approved by:
Rachel George
Payment statistics
Average time taken to pay invoices: 9 days
Invoices paid:
- within 30 days: 99%
- in 31 to 60 days: 0%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 5%
Payment terms
Shortest standard payment periods
18 days
Longest standard payment period
Answer not provided
Standard payment terms
MyCityDeal Limited ("Groupon UK") is an entity in the United Kingdom who operates an online local commerce marketplace that connects merchants to consumers by offering vouchers for goods and services, generally at a discount. The Ultimate Parent of Groupon UK is Groupon, Inc., which has its headquarters in Chicago, Illinois, U.S.A. The majority of contracts entered into by Groupon UK concern payments to merchants for which it sells vouchers on the www.groupon.co.uk website. Given the nature of its business model, Groupon UK invoices merchants for marketing services. A percentage paid by customers for vouchers is held back as payment for these invoices and the difference is remitted to merchants. Groupon UK's standard payment terms under merchant contracts are 14 business days. For the purpose of the above reporting requirement we have converted this to 18 calendar days. Historically, payment terms for non-merchant contracts have tended towards 30 days but in line with global company policy, Groupon UK has been moving towards 45 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
56 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If a merchant objects to the sums paid or not paid, the first step would be to contact their Groupon UK account manager to discuss. Groupon UK's reconciliations team will then be involved to resolve the dispute. For disputes related to non-merchant contracts, the service provider should contact their primary business contact in Groupon UK to resolve.
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