ARCHER DANIELS MIDLAND (UK) LIMITED
Company number: 01090901
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
29 July 2019
Approved by:
O Muldoon
Payment statistics
Average time taken to pay invoices: 14 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 3%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 13%
Payment terms
Shortest standard payment periods
21 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard Payment Period (goods) - 28 days following movement of goods Standard Payment Terms (Other) - 60 days following receipt of invoice
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
197 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In such cases, all matters are discussed with suppliers in the first instance as alternative arrangements may be available. If claims are progressed, source documents relating to the delivery or third party laboratories will be used to assess the outcome. - Quantity / weight queries – refer to the weighbridge ticket - Quality queries are re-tested on both sides and sent for independent analysis if no agreement can be reached
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.
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