UPM-KYMMENE (UK) LIMITED
Company number: SC102969
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
2 July 2019
Approved by:
David Chalmers
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 38%
- in 31 to 60 days: 59%
- 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: £0
- payments due in the reporting period which have not been paid within the agreed period: 28%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
UPM-Kymmene (UK) Ltd has various payment terms with suppliers. The most frequently used are 30, 45 or 60 days net. However, we have a wide range of commercially negotiated contracts with payment terms varying from 7 days to 60 days. The UPM supplier base ranges from small local suppliers, local authorities and other public service providers to large global organisations. Payments cover supplies and services such as raw materials, contract labour, direct materials and spare parts, capital contracts, utilities etc.
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
60 days
n/a
Any other information about payment terms
n/a
Dispute resolution process
Dispute resolution will involve a previously agreed process for arbitration assuming the matter cannot be resolved internally. This would be documented in the specific contract and all contracts will include clear UPM contact persons.
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.
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