RANDSTAD MIDDLE EAST LIMITED
Company number: 02535913
Reporting period:
1 July 2018 to 1 January 2019
Report filed on:
31 January 2019
Approved by:
David Bruce
Payment statistics
Average time taken to pay invoices: 92 days
Invoices paid:
- within 30 days: 8%
- in 31 to 60 days: 23%
- in 61 days or more: 69%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 92%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
90 days
Standard payment terms
The standard contractual length for time of payment of invoices is 60 days from the date of the invoice, however payment terms will vary depending on the supplier type, the spend type, the contractual obligations and the overall contractual negotiation. Our payment terms can be found in clause 8.5 of our standard terms: “In consideration of the supply of Goods and/or Services by the Supplier, Randstad shall pay valid and accurate invoices correctly rendered and accompanied by the information specified in clause 8.6, subject always to clause 8.7 below within 60 days of the date of receipt to a bank account nominated in writing by the Supplier.”
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
The current maximum contractual payment period we have agreed is 90 days from the date of invoice, although this is an exception to our standard practice. We will only extend our contractual payment terms beyond 60 days where it commercially warrants. Variations to contractual payment terms are looked at in isolation and will depend on the size of supplier, spend type and the overall contractual negotiation. The last change to our standard payment terms took place prior to the reporting period which started on 1 January 2018.
Any other information about payment terms
N/A
Dispute resolution process
A copy of our complaints policy is available on request from accounts.payable@randstad.co.uk
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, 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.
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