CONVATEC LIMITED

Company number: 01309639

Reporting period:
1 January 2019 to 30 June 2019

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This report was filed on 22 July 2019

and approved by Christopher Sedwell

Payment statistics

Average time taken to pay invoices: 36 days

Invoices paid:

• within 30 days: 46%
• in 31 to 60 days: 47%
• in 61 days or more: 7%

Invoices due but not paid within agreed terms: 12%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

90 days

Standard payment terms

The Company’s standard terms are 60 days, unless agreed otherwise. The Company makes payment via BACS, twice weekly of all cleared invoices due for payment that working week. Based upon the company’s payment cycle, invoices paid after the due date outside of the normal payment cycle is 4% (compared to 12%, quoted above).

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

No further comment provided

Any other information about payment terms

We ask suppliers to follow the below invoice submission guidelines: Invoice submission for ConvaTec vendors: - Our preferred method for submitting invoices is by email to SupplierInvoices@convatec.com; - Mailed invoices should be sent to *Convatec Entity*, PO Box 228, Deeside Industrial Park, Flintshire, CH5 9EH; - Invoices should be sent only once to either of the addresses, please do not send copies. Queries and follow-ups should be sent to AccountsPayable@convatec.com; - Emailed invoices should be one PDF or Tiff attachment per invoice, the first page of each document is treated as the invoice with subsequent pages the appendices (therefore subsequent invoices are not processed). Multiple attachments can be sent on one email; - Word and excel files will be rejected, they should be saved as PDF before sending, zip files, outlook attachments and JPEGS are also not acceptable; - All invoices MUST quote a VALID purchase order number; - UOM should match the unit on the purchase order; - For contact details please refer to http://supplierlink.convatec.com/. Supplier payments are paid to agreed terms and via BACS. Payments falling due on a non-working day will be made on the next working day.

Dispute resolution process

Queries and follow-ups should be sent to AccountsPayable@convatec.com. If you fail to receive an adequate response please contact the individual who engaged for the goods or services. For further details see http://supplierlink.convatec.com/.

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