EY GDS (CS) LIMITED
Company number: 10787983
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
29 January 2020
Approved by:
VELLIYUR NOTT, Srinivasa Rao
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 28%
- in 31 to 60 days: 58%
- in 61 days or more: 14%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
120 days
Standard payment terms
Standard payment terms with external vendors require the payment to be made within the agreed credit period upon the receipt of a proper invoice by EY GDS (CS) Ltd. Transactions with external vendors are negligible. With respect to Group entities of EY GDS (CS) Ltd, standard payment terms state that invoices are payable by EY GDS (CS) Ltd. within a maximum period of 120 days from the receipt of the invoice. With respect to EY network companies / firms, standard payment terms state that the invoices are payable by EY GDS (CS) Ltd. within a maximum period of 30 days of receipt of invoice.
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
120 days
No further comment provided
Any other information about payment terms
As required, the statistics include numbers for payments to Group entities of EY GDS (CS) Ltd, EY network companies / firms and external vendors. For the purpose of this reporting, the statistics would be a fair and accurate reflection of the numbers if the payments made to Group entities of EY GDS (CS) Ltd and EY network companies / firms are excluded. If only payments to external vendors are considered then the average time to pay is reduced to 20 days and 100% of invoices paid in the reporting period are settled within 60 days of receipt. In respect of reporting solely on the payments to external vendors, the statistics would be as follows: Average Time to pay in days - 20 Percentage of invoices paid in 0 - 30 days - 67% Percentage of invoices paid in 31 - 60 days - 33% Percentage of invoices paid on or after 61 days - 0%
Dispute resolution process
With respect to Group entities of EY GDS (CS) Ltd contracts, the parties agree that any doubt or dispute shall be referred to the Global Managing Partner Business Enablement and the applicable Area Managing Partner of the EY Network. If there is no resolution then the dispute is addressed through the dispute resolution as per agreement.
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