The average time to pay for FITFLOP LIMITED has increased from 37 days in the first period to 39 days in the third period. The percentage of invoices paid within 30 days has decreased slightly from 43% to 39%, while the percentage of invoices paid between 31 and 60 days has increased from 44% to 46%. The percentage of invoices paid later than 60 days has also increased from 13% to 15%. Overall, there has been a slight trend towards longer payment times for FITFLOP LIMITED.
The volatility of FITFLOP LIMITED's payment times can be seen in the changing percentages of invoices paid within 30 days and between 31 and 60 days. These percentages have fluctuated between periods, with the biggest change being a 4% decrease in invoices paid within 30 days and a 2% increase in invoices paid between 31 and 60 days.
In the past three periods, FITFLOP LIMITED has seen a slight increase in their average time to pay, as well as a decrease in the percentage of invoices paid within 30 days. This has been accompanied by an increase in the percentage of invoices paid between 31 and 60 days and later than 60 days. However, the company has consistently had a relatively high percentage of invoices paid within their agreed terms of 65%, 60%, and 58% in the three periods respectively.
| 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 Jan 2018 - 30 Jun 2018 | 09 Aug 2018 | 37 | 43% | 44% | 13% | 65% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment terms may vary depending on the type contract, the business aim to negotiate a standard payment term of 60 days for all contracts.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
Complaints and disputes should be raised with the department who originally worked on agreeing the contract. The complaint or concern will be reviewed and escalated to a line manager if needed to decide on the best course of action.
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
FitFlop Limited is the company behind the FitFlop footwear brand, which designs and sells comfort-engineered shoes including trainers, sandals, boots and slippers for men and women. The brand describes its products as biomechanically engineered for all-day comfort, aiming to make everyday footwear feel less like a compromise between style and comfort. Products are sold through its own website, with additional international trade and wholesale contacts listed across multiple countries. The company was incorporated in 2007, the same year the FitFlop brand states it was founded. It operates as an online retailer and designer of footwear rather than a bricks-and-mortar chain, alongside outlet and seasonal collections.
Generated from the company's website and Companies House records. Sources: fitflop.com · fitflop.com