WATERSTONES BOOKSELLERS LIMITED
Company number: 00610095
Reporting period:
29 April 2018 to 28 October 2018
Report filed on:
8 November 2018
Approved by:
Achilles James Daunt
Payment statistics
Average time taken to pay invoices: 65 days
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 31%
- in 61 days or more: 57%
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: 15%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
The standard payment terms relating to the supply to the company of books for resale is 60 days from the end of the month in which the invoice is received, plus an additional 7 working days to ensure funds have cleared through Bacs. However there are non-standard supplier payment terms which are shorter and longer than the standard terms. Excluding books, the standard terms relating to the supply to the company of non-coffee and non-food products are 60 days from the end of month, with payment made on the next working day. However there are non-standard supplier payment terms which are shorter and longer than the standard terms. There are no standard payment terms for the supply to the company of coffee and food products for resale. The most frequently used payment terms for these products is 30 days. For trade purchases of goods not for resale and services, the company has standard written terms of purchase, which can be found here: https://www.waterstones.com/help/purchase-of-goods-and-services-by-waterstones-from-suppliers/1080; these contain standard 30 day terms of payment. However, in certain circumstances, a supplier will seek to impose its own payment terms, and in other circumstances, a bespoke contract will be agreed.
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
90 days
A small number of suppliers are paid 90 days from the end of the month in which an invoice is received.
Any other information about payment terms
No further comment provided
Dispute resolution process
Resolution of disputes is handled on a case-by-case basis. The company seeks to resolve disputes as quickly as possible.
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.
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.
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