BAYER PUBLIC LIMITED COMPANY
Company number: 00935048
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
28 January 2021
Approved by:
Sreeparna Kurdikar
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 51%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 10%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
130 days
Standard payment terms
Standard payment terms are 60 days on receipt of invoice. Depending on the category of spend, higher or lower standard payment terms may also be employed in line with industry standards for those spend areas.
Were there any changes to the standard payment terms in the reporting period?
Longest payment terms extended from 120 days to 130 days.
Were suppliers notified or consulted about these changes before they were made?
Suppliers were notified, if the extended payment terms applied to them.
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The main point of contact for disputes is the Bayer Source to Pay - Shared Services Centre in Gdansk. In most cases, if an email is received regarding extremely due unpaid invoices, the vendor is asked to provide PDF copy of invoice/s with the Bayer contact person and/or Purchase Order number. Also, the email is forwarded to Procurement to look into the vendor concern and provide advice on how to deal with the vendor and its invoice.
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.
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