REISS LIMITED

Standard payment terms

We pay 30 days as standard, though many stock suppliers are on 60 days. For stock suppliers, payment terms generally begin from the goods being received into our warehouse and clearing quality control. Longer transit times from the Far East continue to result in a longer lead time for stock being QC passed. This is actively managed with suppliers where, as a result, payments may fall outside of the payment terms on the face of the invoice.

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

No information available

Any other information about payment terms

n/a

Maximum contractual payment period agreed

60

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