GFK U.K. LIMITED

Company number: 02512551

Reporting period:
1 July 2018 to 31 December 2018

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This report was filed on 24 July 2019

and approved by Philip Offord

Payment statistics

Average time taken to pay invoices: 33 days

Invoices paid:

• within 30 days: 40%
• in 31 to 60 days: 53%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 60%

Payment terms

Shortest standard payment periods

10 days

Longest standard payment period

60 days

Standard payment terms

Standard payment terms for all suppliers are 60 days. Standard payment terms for consultants/contractors are 30 days.

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

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

All disputes are initially dealt with by Accounts Payable. Each supplier has an assigned representative who will contact the relevant team. Accounts Payable will work with Procurement and the business to resolve disputes and escalate as necessary. On resolution, the supplier will be paid in accordance with their payment terms or on the next payment run if payment is already due.

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.

No

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