The average time to pay for JTF WHOLESALE LIMITED has remained consistent over the past three periods, with an average of 45 days. However, there has been a decrease in the percentage of invoices paid within 30 days and an increase in the percentage of invoices paid later than 60 days.
There is minimal volatility in the average time to pay for JTF WHOLESALE LIMITED, with only a slight increase in the percentage of invoices paid later than 60 days in the most recent period.
| 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 |
|---|---|---|---|---|---|---|
| 25 Mar 2019 - 22 Sept 2019 | 25 Nov 2019 | |||||
| 25 Sept 2018 - 24 Mar 2019 | 25 Nov 2019 | |||||
| 26 Mar 2018 - 25 Sept 2018 | 24 Oct 2018 | 45 | 30% | 48% | 22% | 45% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We offer 3 payment terms to suppliers as a standard: 1. 30 Days - 2.5% Discount; 2. 60 Days - 1.0% Discount; 3. 90 Days - No Discount. We still have a number of suppliers on different terms either as a legacy or due to commercial requirement, including immediate payment, 7 days and 45 days. Work is ongoing to move these suppliers wherever possible to our standard terms.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Where a supplier's payment terms are very short (e.g.immediate payment or 7 days), internal processes around receipt, authorisation, matching and processing of invoices may mean that some invoices are in effect paid late. This has a negative impact on the reported % of invoices not paid within agreed terms.
Maximum contractual payment period agreed
90
Invoice queries (e.g.where the invoice does not match to the PO and GRN within pre-set acceptable tolerance) are passed to the relevant buyer to then resolve with the supplier. Our finance team have a generic e-mail address for accounts queries.
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
JTF WHOLESALE LIMITED is a leading wholesale company based in the United Kingdom. The company specializes in offering a wide range of products, including food and drink, household items, electronics, and clothing, at competitive prices to retailers and businesses.
One of the key initiatives of JTF WHOLESALE LIMITED is their sustainability program. The company is committed to reducing its environmental impact and promoting sustainability in all aspects of its operations. This includes implementing eco-friendly practices in their warehouses and stores, as well as sourcing products from ethical and sustainable suppliers.
JTF WHOLESALE LIMITED offers a variety of products and services to cater to the needs of their diverse customer base. Their food and drink range includes fresh produce, frozen foods, and a variety of drinks. The company also offers a wide selection of household items, such as cleaning products, kitchenware, and furniture. Their electronics range includes TVs, laptops, and home appliances. Additionally, JTF WHOLESALE LIMITED offers a range of clothing and accessories for men, women, and children.
The key people at JTF WHOLESALE LIMITED include the managing director, Brian McGann, and the director of operations, Steve Mackie. Their team is dedicated to providing excellent customer service and ensuring the smooth running of the company.
For more information on their products and services, customers can visit their website at www.jtf.com. The registered office address for JTF WHOLESALE LIMITED is JTF Mega Discount Warehouse, Quest Park, Wheatley Hall Road, Doncaster, DN2 4LT.