GOV.UK
HP INC UK LIMITED
Company number: 09408979
Reporting period:
1 November 2018
to 30 April 2019
This report was filed on 4 June 2019
and approved by Jo McDougall
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 16%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 5 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
HP's standard payment terms are End of Accumulation Period (EOAP) + 45 days. Invoices received from vendors are collected over an accumulated period and 45 days payment period starts after that accumulation period.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
The vendors are encouraged and often they agree to quote a discount for getting early payment from the company. This is managed through a facilitator who works with vendor and the company to arrive at a mutually beneficial terms. The data reported herein include the payments made under this arrangement.
Dispute resolution process
In case of any queries relating to invoice payments, the suppliers are encouraged to reach out to relevant department through website or generic email id. The team investigates the issue in cooperation with the Business units, Invoice processing department and the Procurement department and, then, they provide an answer to the supplier.
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.
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