TG JONES HIGH STREET LIMITED

Standard payment terms

The standard payment terms are 105 days weekly of receipt by TG Jones of a valid invoice or if later after the acceptance of the Goods or Services. However, TG Jones negotiates payment terms individually with suppliers and on a product specific basis. Any contractual package agreed by TG Jones and the supplier usually includes payment terms which are lower than the standard 105 days weekly terms. The TG Jones vendor buyer agreement allows for the offset of amounts owed by the supplier against invoices owed to the supplier. This is normal business practice and protects amounts that are owed to TG Jones. An invoice is deemed settled when it is fully offset by amounts owed to TG Jones.

Were there any changes to the standard payment terms in the reporting period?

Due to a change in systems, payment terms have been simplified moving all suppliers to weekly payments.

Any other information about payment terms

No additional information

Maximum contractual payment period agreed

105

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