PFIZER LIMITED
Company number: 00526209
Reporting period:
1 December 2025 to 31 May 2026
Report filed on:
16 June 2026
Approved by:
David Highton
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: 41 days
Total value paid:
- within 30 days: £6,568,451 (15%)
- in 31 to 60 days: £36,486,527 (81%)
- in 61 days or more: £1,768,638 (4%)
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 78%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £2,845,070
- payments due in the reporting period which have not been paid within the agreed period: 8%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
Qualifying contracts with entities: 60 days or the next payment run thereafter
No payment terms in majority of qualifying contracts with individuals
Purchase Order terms and conditions: the later of 60 calendar days and the next processing run immediately thereafter
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
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:
Retention clauses are included only in qualifying construction contracts with suppliers in specific circumstances, if a specific project duration, a specific type of construction work and/or high value project sums
Does this business only use retention clauses in construction contracts above a specific contract sum?
Yes: £185,000
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?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Release mechanism aligned to JCT terms
Is the money released in stages?
Yes:
Before Practical Completion, full retention applied
After Practical Completion, retention reduces to 50%
Remaining retention released after Notice of Completion of Making Good (defects rectified)
Release mechanism aligned to JCT terms
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
0%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
Pfizer offers suppliers the opportunity to check the current status of their invoices through an accounts payable portal. Suppliers can view when their invoice is due for payment on this portal. The tool is offered free of charge.
In case a supplier needs to contact Pfizer accounts payable department, an email address is available on every purchase order the supplier receives. Pfizer accounts payable department aims to resolve issues as promptly as possible, on average between 3 to 5 working days.
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