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TEREX GB LIMITED

Company number: NI006669

Reporting period:
1 January 2018 to 30 June 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 24 July 2018

and approved by John Sheehan

Payment statistics

Average time taken to pay invoices: 63 days

Invoices paid:

• within 30 days: 12%
• in 31 to 60 days: 31%
• in 61 days or more: 57%

Invoices due but not paid within agreed terms: 23 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

90 days

Standard payment terms

Standard payment terms are 60 days from the end of the month in which the invoice is dated (i.e. EOM 60).

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

For any disputes or queries, suppliers can email gbs.uk.ap.queries@terex.com. The team will investigate any delays or issues in payment in order to resolve any queries as soon as possible.

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.

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