SIEMENS PLC
Company number: 00727817
Reporting period:
1 October 2025 to 31 March 2026
Report filed on:
30 April 2026
Approved by:
James Erik Murnieks
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: 24 days
Total value paid:
- within 30 days: £150,529,045 (58%)
- in 31 to 60 days: £47,843,005 (19%)
- in 61 days or more: £59,708,251 (23%)
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 10%
- in 61 days or more: 19%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £29,735,936
- payments due in the reporting period which have not been paid within the agreed period: 9%
- not made in the reporting period due to a dispute: 5%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
360 days
Standard payment terms
The payment terms are assigned by the Business units on a case by case basis.
Payment terms usage Intercompany clearing transactions
paid immediately in the month following the month of invoice receipt 66%.Note: Intercompany clearing terms are available to Siemens companies only and are cleared via cash pooling without transmission of
money outside of Siemens cash pool.
3rd party payment terms usage :Payable in 60 days 15%, Payable in 30 days 7%, Payable in 90 days 7%, Payable in 120 Days 3%, Remainder of transactions with payments terms of less than 2% occurrence. 360 days is the longest payment term in use and has an occurrence less than 1% of total transactions.
> KPI's excluding ICC clearing) are stated as follows: Average days to pay : 64 days ,Payment timing 0-30 days 13%,31-60 days 31%,61
days plus 56% Late invoices : 18%
Were there any changes to the standard payment terms in the reporting period?
On a case by case basis a few supplier payment terms were changed after consultation
Were suppliers notified or consulted about these changes before they were made?
This was done verbally and also in writing
Maximum contractual payment period agreed
360 days
360 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
Early settlement discounts are applied as agreed with the suppliers and range from 1% to 3% based upon the timing of payments. During the reporting period at least 1% of the overall transactions showed pre-agreed discounts with the suppliers.
Retention clauses
How does this business use retention clauses?
All construction contracts include retention clauses.
Does this business only use retention clauses in construction contracts above a specific contract sum?
Yes: £40,000
Does this business use a standard percentage rate in retention clauses?
Yes: 5%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
Retention terms are agreed on a case-by-case basis, considering the nature of the supply and the terms of the principal contract. Where possible, retention clauses applied to suppliers align with those applied to us and are not intended to be more onerous. Any exceptions are rare and made only where justified by specific contractual or risk considerations, ensuring a fair and proportionate approach.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Different contract by contract depending on the release conditions. A couple of different standards depending on scope: Full release 6 weeks after practical completion or 2.5% at practical completion certificate and 2.5% at end of defects period typically 12 months.
Is the money released in stages?
Yes:
A couple of different standards depending on scope: Full release 6 weeks after practical completion or 2.5% at practical completion certificate and 2.5% at end of defects period typically 12 months
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
50%
Amount retained stated as a percentage of the total construction payments made by this business
5%
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No