TESCO FAMILY DINING LIMITED

Standard payment terms

5 days – small suppliers with up to £250,000 (inclusive of VAT) of business with the Company each year. 60 days – large suppliers, greater than £250,000 (inclusive of VAT) of business with the Company each year. The business has standardised payment terms across each category (The business also has 30 day & 45 day term).

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

No information available

Any other information about payment terms

N/A

Maximum contractual payment period agreed

60

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