UPM-KYMMENE (UK) LIMITED
Company number: SC102969
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 14 July 2020
and approved by David Chalmers
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 36%
- in 31 to 60 days: 60%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 33 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
60 days
Standard payment terms
UPM-Kymmene (UK) Ltd has various payment terms with suppliers, the most frequently used are 30, 45 or 60 days net. We have a wide range of commercially negotiated contracts with payment terms varying from 7 days to 60 days.
The UPM supplier base ranges from smaller local suppliers, local authorities and other public service providers to large global organisations. Payments cover supplies and services such as raw materials, contract labour, direct materials and spare parts, capital contracts, utilities, etc.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
NA
Any other information about payment terms
NA
Dispute resolution process
Dispute resolution will follow a previously agreed process for arbitration assuming the matter cannot be resolved internally. This would be documented in the specific contract and all contracts will include clear UPM contact persons.
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