STRYKER UK LIMITED
Company number: 03669454
Reporting period:
1 January 2018 to
30 June 2018
This report was filed on 20 July 2018
and approved by P Bradley
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 68%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 1%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
The Payables policy targets standardized payment terms across Stryker with all third party vendors of 45 days. If payment terms of 45 days are not achievable or accepted by vendor, a discount is required from third party vendors to pay before 45 days. Intercompany invoices represent 97% of invoice volume and are paid on 30 day terms.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Suppliers can contact Stryker’s dedicated accounts payable team. Such contacts would generally seek to deal with any disputes promptly in accordance with the terms of the contract.
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, 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