WGSN LIMITED
Company number: 04858491
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
23 July 2024
Approved by:
Patrick Walker
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 30%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
WGSN Ltd standard payment terms are 30 days from invoice date. Maximum terms are 60 days. There have been no blanket changes to existing supplier payment terms during the reporting period.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
1. The Purchase Order requests suppliers send invoices to a dedicated mailbox. When sent, the supplier receives an auto email advising Processing times\Processing requirement\AP contacts\3 Tier Escalation contact route if required. For incorrectly prepared invoices, suppliers are sent a rejection email within 48 hours of receipt advising the information required to resubmit for payment. 2. Communication sent to the suppliers who are not sending their invoices on time to AP
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