Published reports

SIEMENS HEALTHCARE DIAGNOSTICS PRODUCTS LTD

Company number: 02005794

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

Reporting period:

1 April 2025 to 30 September 2025

Report filed on:

30 October 2025

Approved by:

Manish Kabra

Contracts and payments

Do any of this business's construction contracts with its suppliers include retention clauses? Yes

Payment statistics

Average time taken to pay invoices: 40 days

Total value paid:

within 30 days: £3,979,519 (44%)
in 31 to 60 days: £2,984,639 (33%)
in 61 days or more: £2,080,203 (23%)

Invoices paid:

within 30 days: 44%
in 31 to 60 days: 33%
in 61 days or more: 23%

Late and disputed:

total value of payments due in the reporting period which have not been paid within the agreed period: £1,989,759
payments due in the reporting period which have not been paid within the agreed period: 22%
not made in the reporting period due to a dispute: 22%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

90 days

Standard payment terms

"Payment terms are assigned by the Business units on a case by case basis:- Payment terms usage :- Intercompany payment term paid immediatly in the month following the invoice recipet month 18%. 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. 3rd party payment terms usage 60 days 43%, 30 days 17%,90 days 16%, 10 days 2%, 45 days 1%, Immediate Payable 1% and the remainder of transactions have payment terms with less than less than 2% occurence. > KPI's excluding ICC clearing transactions ( i.e. Payments with money transmission only ) are stated as follows : Average days to pay : 48 days ,Payment timing : 30 days 32% , 31-60 days 40%, 61 days & above 28%, Late invoices : 16%"

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

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

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

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

Maximum contractual payment period agreed

90 days

Any other information about payment terms

No further comment provided

Retention clauses

How does this business use retention clauses?

Retention clauses are used in specific circumstances:

contract with builders for construction of new building retention held back for 12 months after practical completion for any issues arising from the build

Does this business only use retention clauses in construction contracts above a specific contract sum?

Does this business use a standard percentage rate in retention clauses?

Yes: 3%

Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?

Releasing money under a retention clause

Process for releasing money this business has deducted or retained under a retention clause

under the agreement with Contractor

Is the money released in stages?

Yes:

on practical completion and balance 12 months later

Amount retained from suppliers in the reporting period

Amount retained stated as a percentage of the money retained from this business by its clients

Amount retained stated as a percentage of the total construction payments made by this business

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: +44 1 286 519 600 b) E-mail: apicc_474g_gb@siemens-healthineers.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?

Cookies on Payment practices reporting