VICTORIA'S SECRET UK LIMITED
Company number: 07279467
Reporting period:
4 February 2018 to 3 August 2018
Report filed on:
22 August 2018
Approved by:
Mark Koenig
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 55%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
45 days
Standard payment terms
Standard contractual terms for goods and services is 45 calendar days. Real Estate Landlords are paid in advance of when rent is due or when the invoice is received. Other vendors are paid based on their contractual terms, between 0 and 45 calendar days. Victoria’s Secret UK Limited does not make payments before they are due (with the exception of real estate landlords). Payments are made once per week.
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
45 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
The main point of contact for settling disputes are Victoria’s Secret UK Limited associates who are directly responsible for procuring and working with the vendor. These associates will reach out to the vendor for any questions or disputes.
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