| Company | Group | ||||
| 2020 | 2019 | 2020 | 2019 | ||
| 23 | Trade and other payables | ||||
| Trade payables | 2 308,7 | 2 604,9 | |||
| Contract liabilities – rebates and incentives* | 1 132,7 | 999,6 | |||
| Accruals | 753,6 | 628,0 | |||
| VAT payable | 40,9 | – | |||
| 27,0 | 27,8 | Other creditors | 271,4 | 270,1 | |
| Defined benefit pension fund liability (refer note 28) | 2,3 | 2,0 | |||
| 27,0 | 27,8 | 4 509,6 | 4 504,6 | ||
* During the year, R4,0 billion (2019: R3,7 billion) was raised and R3,8 billion (2019: R3,4 billion) was settled.
Trade payables are non-interest-bearing and are normally settled within 30 to 45 day terms. Included within trade payables is derivative liabilities of R16,1 million (2019: R5,2 million) which are carried at fair value. Refer to note 31.7 for further details.