| 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 | 31 Jan 2020 | 45 | 25% | 52% | 23% | 56% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 45 | 27% | 51% | 22% | 47% |
| 01 Jan 2018 - 30 Jun 2018 | 01 Aug 2018 | 42 | 33% | 45% | 22% | 45% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are to pay the invoice within 7 days of the end of the month following the month in which a valid invoice was presented to us. We also negotiate separate terms with individual suppliers based on their specific products or services, and for long term strategic suppliers
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Payment runs are made weekly for all invoices that have fallen due
Maximum contractual payment period agreed
60
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. 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 escalate 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
ITAB UK LTD is the UK entity within the ITAB group, a Swedish-headquartered business operating under the ITAB brand at itab.se. Its registered activity is manufacture of fabricated metal products, reflecting the group's work designing and producing retail store fixtures. The wider group describes itself as "co-creating retail experiences that connect people with the brands they love", offering retail interior design, lighting and sound systems, in-store technology, and services covering store refits, refurbishment programmes and equipment maintenance. Customers span grocery, fashion, home improvement, consumer electronics, café and service stations, and pharmacy, health and beauty retailers. The company supports store transformation projects and supply of goods not for resale used in retail fit-outs.
Generated from the company's website and Companies House records. Sources: itab.se · itab.se