Industry ranking
The average time taken for OASIS FASHIONS LIMITED to pay invoices has increased over the past three periods, starting at 35 days in Feb 2018 and reaching 45 days in March 2019, before slightly decreasing to 43 days in Sept 2019. The percentage of invoices paid within 30 days has also decreased from 59% to 50%, while the percentage of invoices paid after 60 days has increased from 16% to 23%. This suggests a trend of slower invoice payments by the company.
The volatility in the average time taken to pay invoices by OASIS FASHIONS LIMITED is relatively low, with an increase of only 10% from the lowest period (35 days) to the highest period (45 days). However, there is higher volatility in the percentage of invoices paid within 30 days, with a decrease of 6% from the lowest period (59%) to the highest period (53%). The volatility in the percentage of invoices paid after 60 days is also significant, with an increase of 7% from the lowest period (16%) to the highest period (23%).
Overall, the data shows a trend of slower invoice payments by OASIS FASHIONS LIMITED over the past three periods. The average time taken to pay invoices has increased from 35 days to 43 days, while the percentage of invoices paid within 30 days has decreased from 59% to 50%. The highest percentage of invoices paid after 60 days was in Feb 2019, with 23%, while the shortest (or only) standard payment period for the company is 30 days.
| 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 |
|---|---|---|---|---|---|---|
| 03 Sept 2019 - 29 Feb 2020 | 31 Mar 2020 | 43 | 50% | 27% | 23% | 14% |
| 03 Mar 2019 - 02 Sept 2019 | 30 Sept 2019 | 45 | 54% | 25% | 21% | 12% |
| 25 Aug 2018 - 24 Feb 2019 | 26 Mar 2019 | 39 | 53% | 30% | 17% | 11% |
| 25 Feb 2018 - 24 Aug 2018 | 19 Sept 2018 | 35 | 59% | 25% | 16% | 12% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
OasisFashions Ltd operates to a set of standard payment terms, which are the next payment run before the end of credit period: 67 days for goods for re-sale and 30 days for non-goods for re-sale, variations to these terms to exist based on agreements with certain suppliers.
Were there any changes to the standard payment terms in the reporting period?
Goods terms were amended to standard 67 days in October 2020
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
67
Oasis Fashions policy is to pay its suppliers on time in line with the agreed terms. If a dispute is raised, it is forwarded to the relevant department to be considered. Payment of invoice is held with suppliers knowledge until dispute is resolved. Payment is processed immediately when dispute is resolved.
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
OASIS FASHIONS LIMITED is a in administration private limited company, incorporated on 17 February 2009, based in the West Midlands region. Registered business activity: Retail sale of clothing in specialised stores.
From Companies House records.