DIAGEO NORTHERN IRELAND LIMITED
Company number: NI003755
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
31 July 2019
Approved by:
Kieran Gowing
Payment statistics
Average time taken to pay invoices: 78 days
Invoices paid:
- within 30 days: 4%
- in 31 to 60 days: 21%
- in 61 days or more: 75%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 5%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard contractual terms for payment of invoices 60 Days The maximum contractual period is 120 Days
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
120 days
No further comment provided
Any other information about payment terms
"We have proactively re-categorised all SMEs within our supply chain. We have moved payment runs earlier to enable SMEs to receive funds within the 60 days term. Our average time to pay SMEs in Diageo Northern Ireland Ltd is 55 days and payment to terms is now 95.7%. Our standard payment terms are 60 days, any longer payment terms are for larger suppliers (not SMEs) and are appropriately negotiated and mutually agreed. We continue to work hard to minimise process related errors, by us or our suppliers, to enable payment to terms."
Dispute resolution process
Supplier payment issues that arise in the first instance are addressed by the shared financial services team. Depending on the issue, Procurement may be involved to resolve any disputes or issues via the Diageo internal dispute resolution process.
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.
Yes, this business has signed up to: The Prompt Payment Code
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.
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