GOV.UK
VARIAN MEDICAL SYSTEMS UK LIMITED
Company number: 00558526
Reporting period:
30 September 2017
to 30 March 2018
This report was filed on 10 April 2018
and approved by Nick Moritz
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 43%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 37 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
60 days
Standard payment terms
This is a negotiable term that we use when agreeing contracts– we do not have a standard contractual length. Our current KPI has a target of payment terms for 45 days
Were there any changes to the standard payment terms in the reporting period?
Yes – We are trying to move from a 'norm' of 30 days to the 45 days mentioned above but this is being done on an account-by-account basis as existing contracts expire
Were suppliers notified or consulted about these changes before they were made?
Yes – During renewal negotiations
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Disputed invoices that cannot be cleared by direct liaison between Varian's Accounts Payable staff and the vendor concerned are referred to Varian's Purchasing department or, for ad-hoc purchases, the relevant Varian manager responsible for the vendor's supply of goods or services. Feedback from the non-Finance staff determines whether the resolution is a subsequent payment or a correcting document from the vendor
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
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.
No
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