TUI UK TRANSPORT LIMITED

Company number: 01014599

Reporting period:
1 October 2017 to 31 March 2018

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This report was filed on 2 May 2018

and approved by ROB COLDRAKE

Payment statistics

Average time taken to pay invoices: 129 days

Invoices paid:

• within 30 days: 6%
• in 31 to 60 days: 13%
• in 61 days or more: 81%

Invoices due but not paid within agreed terms: 96%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

Answer not provided

Standard payment terms

ICC vendors = due immediately on receipt of invoice Standard = due 30 days from invoice date The above apply as a general rule unless otherwise negotiated

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

180 days

Intercompany is a significant part of TUTL vendor payments due to the fact that it is a VAT vehicle for the TOMs calculations, and thus all transport invoices between the airline and the tour operator go through this entity. Thus payments become due on date of invoicing but are aged.

Any other information about payment terms

N/A

Dispute resolution process

There is a centralised APhelpdesk email address which inbox is monitored daily and the queries allocated to the relevant teams within AP to action - aiming to provide a resolution within 30 days. For Hotels, there is a separate dedicated channel for queries.

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.

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.

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