Industry ranking
| 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 Jul 2023 - 31 Dec 2023 | 08 Jan 2024 | 56 | 14% | 60% | 26% | 33% |
| 01 Jan 2023 - 30 Jun 2023 | 05 Jul 2023 | 52 | 27% | 52% | 21% | 28% |
| 01 Jul 2022 - 31 Dec 2022 | 25 Jan 2023 | 49 | 37% | 43% | 20% | 36% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 48 | 50% | 24% | 26% | 48% |
| 01 Jul 2021 - 31 Dec 2021 | 29 Jan 2022 | 46 | 39% | 37% | 24% | 46% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 43 | 44% | 32% | 24% | 46% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 43 | 46% | 33% | 21% | 42% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Unless otherwise agreed upon in an executed contract between the parties, Snap Group Limited’s standard payment terms are net 60 days from the date an accurate invoice is submitted. Additional information can be located at https://www.snap.com/en-US/suppliers
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
Suppliers submit invoices to ap.uk@snap.com. Suppliers may also submit invoices through an online Supplier portal in Oracle (subject to invite). If Snap Group Limited intends to dispute any portion of an invoice, it will provide a written description of the disputed portion.
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Snap Group Limited is a UK-registered entity within the Snap Inc group, the company behind Snapchat. Group materials describe Snapchat as a visual messaging service that helps people communicate with friends and family, alongside Spectacles, described as making computing more human, and Lens Studio, a creative tool for developers to build augmented reality and AI experiences. The registered UK entity itself is named as a party to Snap's Terms of Service alongside Snap Inc, indicating its role within the wider Snap corporate group rather than as an independent trading business. Companies House records this entity under the SIC code for other information technology service activities, consistent with its place in a software and technology group.
Generated from the company's website and Companies House records. Sources: snap.com · snap.com