BEAVERBROOKS THE JEWELLERS LTD

Standard payment terms

Standard payment terms vary significantly across the business depending on the type and nationality of the supplier. Our payment terms range between 7 and 90 days. We try to use local suppliers where possible. 51% of our invoices were paid using end of month plus 30 days terms, with our next highest group being 32% of our total being paid at 30 days terms.

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

We are permitted extended terms with several stock suppliers during the Christmas season which can extend our standard terms. This has increased our average time to pay from 38 days, during normal trading periods, to 42 days during this period. Increasing the percentage of invoices paid in the 31 to 60 days payment terms category from 29% to 47% reducing our within 30 days terms from 63% to 43%.

Any other information about payment terms

No additional information

Maximum contractual payment period agreed

90

Has this business signed up to a code of conduct or standards on payment practices?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

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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.

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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.

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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?

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

No information available