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 in administration private limited company, incorporated on 21 December 2005, based in the East Midlands region. Registered business activity: Non-specialised wholesale trade; Other retail sale in non-specialised stores.
From Companies House records.