PIRAMAL HEALTHCARE UK LIMITED
Company number: 05370591
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
20 January 2020
Approved by:
Rob Haxton
Payment statistics
Average time taken to pay invoices: 55 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 62%
- in 61 days or more: 29%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 94%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
75 days
Standard payment terms
Standard payment terms vary across the business depending on the nature of the supply and the geographical location of the supplier. The majority of our customers are on the end of month following date of invoice term
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
75 days
This is 75 days as the material comes on a ship from China and the transportation time is included in the terms.
Any other information about payment terms
No further comment provided
Dispute resolution process
We usually do 2 payment runs a month to sweep up all overdues and rarely encounter any disputes. These would be handled by our Shared Service team in India should they arise. Issues around pricing/delivery discrepancies are dealt with by our procurement team
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.
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