RIVER ISLAND CLOTHING CO. LIMITED
Company number: 00636095
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
30 January 2020
Approved by:
Majda Rainer
Payment statistics
Average time taken to pay invoices: 17 days
Invoices paid:
- within 30 days: 86%
- in 31 to 60 days: 8%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
River Island Clothing Co. Ltd standard payment terms are as follows: Goods for Sale : Payment terms for these suppliers range between 14-60 days. Goods not for Sale : Payment terms for these suppliers are set at standard 14-30 days. Terms are set based on the agreements and type of particular goods or services being offered with individual suppliers.
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
Disputes concerning supplier invoices and payments are dealt with by the Accounts Payable team. Disputes concerning products or services are dealt with by the relevant business departments. Concerned teams endeavour to resolve any issues or disputes to pay the suppliers in a timely manner.
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