Published reports

SIEMENS TRANSMISSION AND DISTRIBUTION LIMITED

Company number: 00631825

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 October 2017 to 31 March 2018

Report filed on:

25 April 2018

Approved by:

Alistair Gemmell

Payment statistics

Average time taken to pay invoices: 38 days

Invoices paid:

within 30 days: 52%
in 31 to 60 days: 28%
in 61 days or more: 20%

Late and disputed:

payments due in the reporting period which have not been paid within the agreed period: 23%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

96 days

Standard payment terms

The payment terms are assigned by the Business units on a case by case basis:- Payment terms usage is as follows: 48% within 30 days from document date, 28% within 60 days from document date, 12% only InterCompanyClearing transactions due net end of the month (default), 5% within 28th of the month following the date of invoice , 3% within 90 - 96 days . Remainder payment terms occurrence less than 1% each and range from immediate to 96 days and assigned on case by case basis. Please note Intercompany clearing terms are available to Siemens companies only and payment method for such terms results in clearing of such transactions without any transmission of money external to Siemens cash pool. > KPI's excluding ICC clearing transactions ( i.e. Payments with money transmission only ) are restated as follows: Average days to pay : 43 days, Payment timing : 30 days 46% , 31-60 days 32%, 61 days & above 22%, Late invoices : 24%

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

During the period changes were made to payment terms for specific suppliers after consultation with suppliers. No payment terms were used where early settlement discounts were applied.

Were suppliers notified or consulted about these changes before they were made?

Normally in writting

Maximum contractual payment period agreed

96 days

96 Days is the standard term used for projects with a long term and agreed on a case by case basis . Includes Foreign suppliers with payments in Letters of Credits etc.

Any other information about payment terms

No further comment provided

Dispute resolution process

1) Central Accounts Payable (AP) team for payment enquiries, contact points via phone/e-mail/supplier portal. Relevant details are on Purchase Orders. A) Tel: 0845 602 6873 b) E-mail apsupport-gbandi.in@siemens.com 2) AP liaise with supplier to obtain and process missing invoices a) Check existing systems (scan provider/e-invoice provider/invoice process queue to see if invoice already in query and/or returned to suppler) 3) AP liaise with suppliers to confirm payment details (past and upcoming) 4) AP liaise with approvers to release overdue invoices for payment 5) Special team deals with ‘final demand’ cases and legal notices

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 Fair 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.

Yes

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.

Yes

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?