J. CHOO LIMITED

Company number: 03185783

Reporting period:
1 January 2018 to 30 June 2018

This information is as reported by the business, and responses are in their own words.

This report was filed on 30 July 2018

and approved by Simon Kemmett

Payment statistics

Average time taken to pay invoices: 59 days

Invoices paid:

within 30 days: 34%
in 31 to 60 days: 36%
in 61 days or more: 30%

Invoices due but not paid within agreed terms: 83%

Payment terms

Shortest standard payment periods

90 days

Longest standard payment period

Answer not provided

Standard payment terms

Standard is 90 days from invoice date

Were there any changes to the standard payment terms in the reporting period?

We have changed the length of payment terms for some manufacturing suppliers

Were suppliers notified or consulted about these changes before they were made?

We had various discussions and written notification based upon the contract

Maximum contractual payment period agreed

180 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Any disputes are resolved between the Supplier and Business User in conjunction with the Finance Team.

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 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.

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.

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.

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?

Yes

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

Yes