SMITHS MEDICAL INTERNATIONAL LIMITED
Company number: 00362847
Reporting period:
1 August 2019 to
31 January 2020
!
This information is as reported by the business, and responses are in their own words.
This report was filed on 9 March 2020
and approved by Louis Jones
Payment statistics
Average time taken to pay invoices:
61 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 59%
- in 61 days or more: 21%
Invoices due but not paid within agreed terms:
82%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
90 days
Standard payment terms
Our standard Terms are 60 DAYS.
Were there any changes to the standard payment terms in the reporting
period?
We asked all vendors to move 60 day terms. Some have accepted this change.
Were suppliers notified or consulted about these changes before they
were made?
Email / Letter
Maximum contractual payment period agreed
90 days
These relate to long transportation time from the Far East
Any other information about payment terms
N/A
Dispute resolution process
Vendor raise queries with a dedicated team based in the UK who work to clear any quries
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.
Yes
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