| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 66 | 4% | 56% | 39% | 39% |
| 01 Jan 2019 - 30 Jun 2019 | 25 Jul 2019 | 37 | 65% | 24% | 11% | 35% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 28 | 74% | 20% | 6% | 26% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Vendors are automatically put on 60day payment terms unless otherwise agreed
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
Any complaint or concern will be considered by Administrator for expert departments, and Shipping Finance Assistant for Shipping with an aim to resolve them as quickly as possible.
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
Sotheby's is a British multinational corporation that specializes in auctioning art, antiques, jewelry, and collectibles. Founded in 1744, it has become one of the world's largest and most renowned auction houses.
The company's sustainability program, called "Sotheby's Green," focuses on reducing its environmental impact and promoting responsible business practices. This includes initiatives such as using sustainable materials in packaging, reducing energy consumption, and partnering with environmentally friendly suppliers.
Sotheby's offers a wide range of products and services, including private sales, online auctions, and exhibitions. It also provides services such as appraisals, valuations, and financial services to its clients.
The key people at Sotheby's include Charles F. Stewart, the Chief Executive Officer, and Tad Smith, the Chairman of the Board. They are supported by a team of experienced auctioneers, specialists, and advisors who bring expertise and knowledge to the company.
To contact Sotheby's, individuals can visit their website at www.sothebys.com or reach out to their registered office at 34-35 New Bond Street, London, W1A 2AA, United Kingdom. The company also has offices and locations worldwide, making it easily accessible to customers across the globe.