WELLS FARGO SECURITIES INTERNATIONAL LIMITED
Company number: 03426903
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
26 July 2018
Approved by:
Bryn Owen
Payment statistics
Average time taken to pay invoices: 44 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 14%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 19%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
45 days
Standard payment terms
45 days for contracted supply agreements (i.e. transactions governed by a master agreement), 30 days for purchase orders
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
Wells Fargo transacts with third party suppliers on a requirements basis as opposed to a maximum contract period
Any other information about payment terms
No further comment
Dispute resolution process
WF applied contract templates contain dispute resolution language/clause which sets out resolution process to be applied . This includes but is not specific to resolution of payment issues.
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.
No
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