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ZIMMER BIOMET UK LIMITED

Company number: 00740767

Reporting period:
1 January 2019 to 30 June 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 30 July 2019

and approved by Bo Vendelboe

Payment statistics

Average time taken to pay invoices: 41 days

Invoices paid:

• within 30 days: 15%
• in 31 to 60 days: 84%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 2 %

Payment terms

Shortest standard payment period

1 days

Longest standard payment period

180 days

Standard payment terms

The business is currently not disclosing any General Terms and Conditions of purchase. The payment term the most commonly applied is net 30 days from the invoice date for external suppliers. Internal to Zimmer Biomet as a corporation, the longest payment term applied is 180 days from delivered good consumption.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

180 days

The maximum contractual payment period is applied inside the Zimmer Biomet group only.

Any other information about payment terms

N/A

Dispute resolution process

Zimmer Biomet UK currently has no dispute resolution process. The suppliers are invited to contact directly the Zimmer Biomet accounts team to find a quick resolution.

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.

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