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COTY SERVICES UK LIMITED

Company number: 00325646

Reporting period:
1 July 2019 to 31 December 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 17 January 2020

and approved by Fraser Patrick

Payment statistics

Average time taken to pay invoices: 42 days

Invoices paid:

• within 30 days: 50%
• in 31 to 60 days: 24%
• in 61 days or more: 27%

Invoices due but not paid within agreed terms: 27 %

Payment terms

Standard payment period for qualifying contracts

120 days

Standard payment terms

For 3rd party suppliers the standard payment terms are 120 days. Intercompany payments on immediate payment terms.

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

No

Maximum contractual payment period agreed

150 days

Any other information about payment terms

N/A

Dispute resolution process

All invoices are sent to the Shared Service Center, where they are recorded in the Accounts Payable Ledger. The Accounts Payable team, based in the Shared Service Center, is contactable by phone and by email. Vendors with invoice queries need to contact the Accounts Payable team in the first instance and they will work to resolve the query. If the Accounts Payable team are not able to resolve or if it is not clear from the system why the invoice has not been approved for payment, the Accounts Payable team will reach out to the invoice contact or Purchase Order Originator for assistance

If resolution is still not possible then the standard process is to be followed per the UK Terms & Conditions (for Goods and Services)

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