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Jumbo shortened payment term

19 April 2019

Jumbo will pay small suppliers - up to 200,000 euros per year - within thirty days. In addition, even larger manufacturers can get their invoices paid earlier via a new service.

Last year, the Financieele Dagblad (FD) reported that it took an average of 75 days before Jumbo suppliers were paid. Financial Director of Jumbo, Ton van Veen, said that last year the payment term was also 31 days, because many suppliers made use of arrangements where the bank had already advanced the money. In any case, the supermarket chain took the criticism on board, which is why they have adjusted the payment term.

Source: © Jumbo

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