GOV.UK
MOLSON COORS BREWING COMPANY (UK) LIMITED
Company number: 00026018
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 23 July 2019
and approved by Robert Eveson
Payment statistics
Average time taken to pay invoices: 77 days
Invoices paid:
- within 30 days: 10%
- in 31 to 60 days: 30%
- in 61 days or more: 60%
Invoices due but not paid within agreed terms: 8 %
Payment terms
Standard payment period for qualifying contracts
90 days
Standard payment terms
Our standard payment terms are as follows:
Molson Coors shall process payment of an invoice no later than the first Payment Date following the expiry of the 90 days’ period commencing on the later of the receipt of a valid VAT invoice delivered in accordance with the contract or the acceptance of the goods by Molson Coors. Payment shall be made to the bank account nominated in writing by the supplier.
“Payment Date” means the next payment run. Payments are processed weekly on a Monday for receipt of payment on a Wednesday.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
180 days
We offer our large strategic supply partners competitive financing options through Citi Bank DPO to assist their cash flow.
Any other information about payment terms
Our standard payment period is 90 days from the date of a valid invoice and included in the subsequent payment run.
Payment terms are appropriately negotiated based on a number of factors , including scale and nature of goods or services supplied.
Dispute resolution process
Molson Coors are committed to efficient invoice and payment processing.
We believe that it is important to provide our suppliers with a fair and transparent dispute resolution process which deals with what actions they can take if and when a dispute or concern arises. With this in mind, our suppliers are issued with a copy of our invoice process and dispute resolution process at the outset of the relationship.
Invoices with price and quantity discrepancies outside accepted tolerances will not be included in payment until the mismatch is resolved. All discrepancies are investigated internally by the buyers to verify if the invoice is correct or not; this is typically the person who placed the order with you. Our Accounts Payable Team will inform you of any discrepancy requiring your action, including the reason for the rejection. Please ensure that your contact details are up to date and correct. These can be updated by contacting BPO-CBL.accountspayableprocessing@molsoncoors.com.
Please contact the Accounts Payable Team by or phone or e-mail for status updates of individual invoices and by e-mail only for a large number of invoices or a full statement. Our accounts payable team endeavour to provide a first response within 3 working days of receiving a query.
BPO-CBL.Accountspayableprocessing@molsoncoors.com
Tel: 0800 7833 799 Option 1
If you are unable to reach a resolution to an issue or have any concerns, please escalate this to your Molson Coors relationship owner.
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.
Yes
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