UPS SCS (UK) LIMITED

Company number: 02928205

Reporting period:
1 January 2019 to 30 June 2019

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This report was filed on 5 September 2019

and approved by Bram Welsh

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

• within 30 days: 64%
• in 31 to 60 days: 27%
• in 61 days or more: 9%

Invoices due but not paid within agreed terms: 37%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

Net 30

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

UPS policy releases payment on the due date and only pays during US business days. Under invoice creation date (ICD) policy, invoices are received when they are available in UPS’s accounts payable processing sites. An invoice creation date is assigned when the invoice is available in the payment system. In addition, UPS has announced a standardization of terms to 90 days.

Were suppliers notified or consulted about these changes before they were made?

UPS policy releases payment on the due date and only pays during US business days. Under invoice creation date (ICD) policy, invoices are received when they are available in UPS’s accounts payable processing sites. An invoice creation date is assigned when the invoice is available in the payment system. In addition, UPS has announced a standardization of terms to 90 days.

Maximum contractual payment period agreed

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

UPS’ dispute resolution process is outlined in contractual agreement with each supplier

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