THORNTONS LIMITED
Company number: 00174706
Reporting period:
1 September 2020 to 28 February 2021
Report filed on:
31 March 2021
Approved by:
Paolo Di-Pietro
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 57%
- in 31 to 60 days: 33%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 41%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
30 days from the date of invoice
Were there any changes to the standard payment terms in the reporting period?
New suppliers and renewal contracts will be offered standard terms of 60 days
Were suppliers notified or consulted about these changes before they were made?
Suppliers will be sent terms and conditions at the point of engagement or renewal
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers are able to contact the business regarding a compliant or concern on the following email address. Alfretonfinanceaccountspayable@ferrero.com where a team of experts will direct the query to the relevant department. The complaint or concern will be considered by that department. The length of tie taken to resolve the complaint or concern is dictated by its nature. If a resolution cannot be agreed upon the business will use an escalation process both within the business and with the supplier until a resolution by both parties can be found.
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