AO RETAIL LIMITED
Company number: 03914998
Reporting period:
1 April 2022 to 30 September 2022
Report filed on:
27 October 2022
Approved by:
Mark Higgins
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 1%
- in 31 to 60 days: 76%
- in 61 days or more: 22%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
135 days
Standard payment terms
Standard payment terms for stock suppliers range from 45 days to 60 days EOM. For non-stock suppliers, terms are generally 30Days, with the only exceptions being in specific agreed circumstances between both parties.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
135 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Retail -All queries are managed by a dedicated supplier finance team who contact the supplier with any invoices which can not be matched to receipt of goods. AO Retail Limited has regular dialogue with suppliers and attempts to resolve queries in a timely manner. Mobile - For queries related to payment of invoices, suppliers should initially contact the PurchaseLedger@AO.co.uk who will assist in resolving straight forward issues. Disputes which are more will be escalated to the Purchasing for Qty or Pricing issues for Stock queries for all non stock queries Purchase ledger will escalate to the relevant department to resolve all disputes as quickly as possible so to pay suppliers within the agreed payment terms.
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.
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