ESSITY UK LIMITED
Company number: 03226403
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 4 October 2019
and approved by Paul Bailey
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 36%
- in 61 days or more: 35%
Invoices due but not paid within agreed terms: 93 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
90 days
Standard payment terms
Default payment terms of 90 days are applied unless
shorter payment terms are agreed with the supplier.
Most used payment terms include 45 days and 60 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
A review of our payment process is being taken so that we have a standardised approach across Europe. This will lead to more regular payment runs and therefore a decrease in late payments.
Although 93% are showing as late, if we exclude payments that are up to a week late this figure reduces to 27%.
Dispute resolution process
The purchaser contacts the supplier to try to resolve the situation and then will inform Accounts who will chase for any expected credit notes.
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.
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