TUI UK LIMITED

Company number: 02830117

Reporting period:
1 October 2019 to 31 March 2020

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This report was filed on 30 April 2020

and approved by Robert Coldrake

Payment statistics

Average time taken to pay invoices: 61 days

Invoices paid:

• within 30 days: 36%
• in 31 to 60 days: 34%
• in 61 days or more: 29%

Invoices due but not paid within agreed terms: 54%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

Hotels = 60 days from invoice date (as per contracts) - applies as a general rule unless otherwise negotiated Standard = 30 days from invoice date - applies as a general rule unless otherwise negotiated Intercompany = immediate on receipt of invoice The tour operator part of our business (TUI UK Limited) makes prepayments on account to hoteliers to help with their seasonality / cash flow through the quieter months.

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

None

Any other information about payment terms

None

Dispute resolution process

There is a centralised APhelpdesk email address which inbox is monitored daily and the queries allocated to the relevant teams within AP to action - aiming to provide a resolution within 30 days. For Hotels, there is a separate dedicated channel for queries.

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