EATON LIMITED

Company number: 00155621

Reporting period:
1 January 2019 to 30 June 2019

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This report was filed on 29 July 2019

and approved by M Mullin

Payment statistics

Average time taken to pay invoices: 68 days

Invoices paid:

• within 30 days: 18%
• in 31 to 60 days: 22%
• in 61 days or more: 60%

Invoices due but not paid within agreed terms: 81%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

90 days

Standard payment terms

Standard payment terms are 90 days where this can be agreed with the supplier. Other payment terms may be agreed based on historical trading relationships, available settlement discounts, or standard industry practice for particular supplies or circumstances, and range from immediate payment to 90 days, all subject to the constraints of local legislation.

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

N/A

Dispute resolution process

Supplier queries should be addressed to APCustomerService@eaton.com. Queries are allocated a case number and are targeted to be answered within 3 working days. The AP team may seek support for resolution of disputes from the relevant buyer or site contact as appropriate.

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