GOV.UK
GE MEDICAL SYSTEMS LIMITED
Company number: 00252567
Reporting period:
1 January 2020
to 30 June 2020
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 29 July 2020
and approved by Jane Beastall
Payment statistics
Average time taken to pay invoices: 75 days
Invoices paid:
- within 30 days: 16%
- in 31 to 60 days: 19%
- in 61 days or more: 65%
Invoices due but not paid within agreed terms: 66 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
150 days
Standard payment terms
30 days is for individual healthcare professionals, 90 days for other vendors.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
165 days
150 days is the maximum but a few vendors are on agreed month batching which is being recognised as 150+15 days.
Any other information about payment terms
N/A
Dispute resolution process
Accounts Payable and staff escalate any disputes to sourcing team who engage supplier to establish agreed terms.
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