Company number: 07101408
and approved by Adrian Evans
Average time taken to pay invoices: 34 days
Invoices paid:
Invoices due but not paid within agreed terms: 34%
0 days
120 days
The average standard payment terms for Made.com Design Ltd depends on the type of supplier: - for overhead suppliers it is 30 days from date of invoice which makes up of 52% of invoices - for stock suppliers the standard payment terms vary from 0 days (immediate payments) up to 90 days
As a short term liquidity measure during the Coronavirus (Covid-19 )pandemic, Made.com approached a very limited number of suppliers with a request to temporarily extend contracted payment terms for the period of March 2020 - June 2020 ( for Overheads and Stock suppliers) and for temporary rent holiday for offices and showrooms for FY20 Q2 and Q3.
Suppliers have been approached with a request to temporarily grant Made.com an extended payment terms or rent holidays. Majority of these suppliers returned to us with a written confirmation of agreement. Made.com did not extend any payment terms without consent from the suppliers.
120 days
no
no
Suppliers are contacted and advised there is an issue with the invoice. The person responsible for dispute resolution is usually the business representative who has a direct relationship with the supplier and ordered the goods/services from them directly. If it cannot be resolved in a timely manner, then the dispute would be taken over by the director/head of department.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No