CIRRUS LOGIC INTERNATIONAL SEMICONDUCTOR LTD.
Company number: SC495735
Reporting period:
30 September 2019 to
28 March 2020
This report was filed on 27 April 2020
and approved by Pedro Andrade
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 66%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 7%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are to pay invoices no later than the first Thursday occurring following the due date of the invoice which is 45 days from the date the invoice is received by the Accounts Payable Department. Payment terms are quoted on each purchase order sent to vendors. Alternative terms can be agreed with individual vendors. If a valid invoice is received promptly at the correct email address, quoting a valid purchase order it will be paid according to the payment terms via weekly payment runs. The correct invoicing address, which is quoted on all purchase orders is AP_UKAU@cirrus.com. If invoices cannot be emailed they should be sent to Cirrus Logic International (UK) Ltd at 7B Nightingale Way, Quartermile, Edinburgh, EH3 9EG. There were no changes to the standard payment terms in the reporting period. The maximum contractual payment period in the reporting period was 60 days.
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
60 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
At Cirrus Logic, we try to resolve any invoice disputes or queries as quickly as possible. Queries regarding the status of an invoice can be directed to the Accounts Payable Team via the following email address: APSupport@cirrus.com. If any disputes arise, Procurement will review the terms of the agreement and work with the vendor to address the dispute accordingly.
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.
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.
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