Company number: 05652018
1 January 2020
to 30 June 2020
This report was filed on 28 July 2020
and approved by Timothy Jones
Average time taken to pay invoices: 56 days
- within 30 days: 50%
- in 31 to 60 days: 34%
- in 61 days or more: 16%
Invoices due but not paid within agreed terms: 53 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Standard payment terms are 31 days following month of invoice.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
HellermannTyton follow a strict no PO no pay policy and invoices must be sent to the correct address as communicated to suppliers and as stated at the bottom of the PO. The PO number is communicated by HellermannTyton’s procurement team or by the relevant HellermannTyton requistioner at the time of placing the order.
Dispute resolution process
If a supplier has any disputes or concerns regarding any aspect of our payment process, their first contact would be the procurement team in the business. In the absence of that, suppliers may contact our Accounts Payable department directly. The aim of any conversation is always to resolve any issue in a timely and collaborative manner, in order to maintain a good working relationship. If those involved are unable to find a solution, then the issue would be escalated appropriately within the business. Where the issue is with the invoice the supplier is required to provide any missing information or a corrected invoice.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?