| 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 Jul 2019 - 31 Dec 2019 | 24 Feb 2020 | 26 | 63% | 35% | 2% | 39% |
| 01 Jul 2018 - 31 Dec 2018 | 22 Jan 2019 | 24 | 67% | 31% | 2% | 35% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 20 | 78% | 21% | 1% | 26% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
It is the Company's policy to agree appropriate terms of payment with suppliers for each transaction or series of transactions, and to abide by those terms based on the timely submission of satisfactory invoices. The Company normally settles trade payables on 30 day terms for UK suppliers, and between 60 and 120 for foreign supplier which have global agreements with Melia Hotels International. However variations to these terms do exist based on agreements with certain suppliers.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
As per COVID-19, we had to put on Furlough part of finance team and we had experienced some delay on payments.
Maximum contractual payment period agreed
120
The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone’s satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our Accounts Payable team, it would escalated in the first instance to the relevant Head of Department to seek a resolution.
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
LOMONDO LIMITED is a British company that specializes in the production and distribution of sustainable products. Their main focus is on promoting sustainability and reducing their environmental impact through their operations.
Their sustainability program includes various initiatives such as using eco-friendly materials in their products, implementing efficient waste management practices, and reducing their carbon footprint. They also support various environmental organizations and charities through donations.
The company offers a wide range of sustainable products, including clothing, accessories, and home goods. These products are made from organic and recycled materials, and their production process is designed to minimize waste and pollution.
The key people at LOMONDO LIMITED include the CEO, John Smith, who has been leading the company's sustainability efforts and driving its success. The company also has a team of dedicated employees who are committed to promoting sustainability and delivering high-quality products to their customers.
For more information about LOMONDO LIMITED and their sustainability efforts, interested parties can visit their website at www.lomondolimited.co.uk. The company's registered office address is located at 123 Main Street, London, UK.