GOV.UK
FISHER CLINICAL SERVICES UK LIMITED
Company number: 05281630
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 18 July 2018
and approved by Nicholas Ince
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 49%
- in 31 to 60 days: 35%
- in 61 days or more: 16%
Invoices due but not paid within agreed terms: 18 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
90 days
Standard payment terms
Payment Terms
Thermo Fisher Corporate payment term expectations are net 75 days / 2% discount for payment within 15 days of invoice date.
Where deemed applicable, Purchasing discuss the Corporate payment terms with suitable Suppliers and where feasible, agreement is made between both parties for ongoing business on this basis.
As a site, we do not adopt a “standard payment terms” policy owing to the varied site spend requirements, related purchasing strategies utilised and the diverse types of supplier required.
Purchasing uphold a steadfast stance that undue financial constraints on Suppliers are counterproductive. As such, before approaching Suppliers to discuss and agree payment terms, the nature of business (size/type), industry and likely future requirements are considered.
All Payment Terms that are established between FCS and Suppliers are always done so on a mutually agreed basis.
Different types of “qualifying contract”
Purchase Orders – Utilised for “standard” purchases across Direct/Indirect categories
Contracts/Agreements – Utilised for “non-standard” purchases such as some project led purchases and complex purchases which require contract/legal involvement.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
75 days
Any other information about payment terms
N/A
Dispute resolution process
All payment terms are mutually agreed between both parties and Purchase Orders placed on this basis with clear “bill to” information indicated and Instructions to reference the Purchase Order number are clearly displayed on this document. This is done to proactively help avoid common reasons for delays in payment.
Purchasing contact details are clearly shown on the covering e-mail as a specific point of contact to enable first point communication.
At Order fulfilment or at agreed milestones indicated on the Purchase Order, invoices can be sent by the Supplier for payment. Payment Terms are applied based on the date of invoice unless deemed reasonable to utilise the date of receipt i.e. late receipt of invoice.
Should an invoice contain erroneous information, this is queried internally by Account Payable with Purchasing to resolve. Should this not be possible, the Supplier will be notified of the query with the aim of providing assistance to avoid late payment.
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