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DIAGEO NORTHERN IRELAND LIMITED

Company number: NI003755

Reporting period:
1 January 2020 to 30 June 2020

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

This report was filed on 31 July 2020

and approved by Kieran Gowing

Payment statistics

Average time taken to pay invoices: 85 days

Invoices paid:

• within 30 days: 3%
• in 31 to 60 days: 29%
• in 61 days or more: 68%

Invoices due but not paid within agreed terms: 14 %

Payment terms

Standard payment period for qualifying contracts

60 days

Standard payment terms

Our standard payment terms are 60 days, any longer payment terms are for larger multi-national suppliers (not SMEs) and all terms are appropriately negotiated and mutually agreed. In the last 6 months, as part of our continued focus on SMEs, we worked to ensure outstanding overdue SME invoices were paid. We also identified SMEs that needed to be paid earlier than their agreed terms and made early payments. We continue to work hard to minimize process related errors, caused either by us or our suppliers, to enable payment to terms.

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

No

Maximum contractual payment period agreed

120 days

Any other information about payment terms

N/A

Dispute resolution process

Supplier payment issues that arise in the first instance are addressed by the shared financial services team. Depending on the issue, Procurement may be involved to resolve any disputes or issues via the Diageo internal dispute resolution process.

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.

Yes – The Prompt Payment Code

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.

Yes

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