ZIFFIT LTD demonstrates a strong trend of timely payments, with an average settlement period of 30 days and 95% of invoices paid within this timeframe. A small proportion of payments, 5%, extends to the 31-60 day range, indicating a consistent trajectory towards rapid settlement for the vast majority of obligations.
Payment behavior for ZIFFIT LTD exhibits very low volatility, as 100% of payments are completed within 60 days, with zero instances exceeding this period. This predictability and minimal 5% fluctuation past 30 days suggest a highly reliable payment schedule, posing minimal risk of unexpected delays for suppliers.
ZIFFIT LTD is assessed as a very low-risk payment partner due to their consistent on-time performance and the absence of any payments exceeding 60 days. Suppliers can make decisions with high confidence in receiving timely payments, as no specific risk mitigation strategies are immediately necessary beyond standard contractual agreements.
| 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 May 2019 - 31 Oct 2019 | 29 Nov 2019 | 30 | 95% | 5% | 0% | 1% |
| 01 Nov 2018 - 30 Apr 2019 | 08 May 2019 | 30 | 83% | 14% | 3% | 5% |
| 01 May 2018 - 31 Oct 2018 | 27 Nov 2018 | 30 | 78% | 21% | 1% | 6% |
| 01 Nov 2017 - 30 Apr 2018 | 29 May 2018 | 30 | 87% | 13% | 0% | 2% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The standard payment terms relating to the supply of books for resale is 60 days from the date of invoice. However due to the nature of the business there are also non-standard supplier payment terms which are shorter and longer than our preferred standard terms. Excluding books, the standard terms relating to the supply of operations and logistical services to the company are 60 days from date of invoice. However there are non-standard supplier payment terms which are shorter and longer than the standard terms. The company standard payment terms are 60 days. However, in certain circumstances, a supplier will seek to impose its own payment terms, and in other circumstances, a bespoke contract will be agreed.
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
Resolution of disputes is handled on a case-by-case basis. The company seeks to resolve disputes as quickly as possible.
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
ZIFFIT LTD operates as an active Private limited Company. This organisational structure facilitates a wide range of business activities within the UK.
The company was incorporated on 9 December 2010, identified by company number 07464659. Its registered office is situated at Unit 2 Holm Oak Business Park, Woods Way, Goring-By-Sea, West Sussex, BN12 4QY, placing it within the South East region.
Private limited companies in the UK market are typically established to provide a diverse range of products and services. They are structured to operate across numerous sectors, serving various customer bases.