ARCHER DANIELS MIDLAND (UK) LIMITED
Company number: 01090901
Reporting period:
1 July 2018 to
31 December 2018
This report was filed on 28 January 2019
and approved by Orla Muldoon
Payment statistics
Average time taken to pay invoices: 12 days
Invoices paid:
- within 30 days: 96%
- in 31 to 60 days: 3%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 10%
Payment terms
Shortest standard payment periods
28 days
Longest standard payment period
Answer not provided
Standard payment terms
28 days following movement of goods is our most common payment term
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
322 days
This was a specific contractual term agreed with the supplier
Any other information about payment terms
N/A
Dispute resolution process
In such cases, all matters are discussed with suppliers in the first instance as alternative arrangements may be available. If claims are progressed, source documents relating to the delivery or third party laboratories will be used to assess the outcome. - Quantity / weight queries – refer to the weighbridge ticket - Quality queries are re-tested on both sides and sent for independent analysis if no agreement can be reached
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No