PFIZER R&D UK LIMITED
Company number: 11439437
Reporting period:
1 June 2020
to 30 November 2020
This report was filed on 11 January 2021
and approved by David Lehman
Payment statistics
Average time taken to pay invoices: 68 days
Invoices paid:
- within 30 days: 6%
- in 31 to 60 days: 5%
- in 61 days or more: 89%
Invoices due but not paid within agreed terms: 4 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
120 days
Standard payment terms
• Qualifying contracts with entities: 60 days or the next payment run thereafter
• No payment terms in majority of qualifying contracts with individuals
• Purchase Order terms and conditions: the later of 60 calendar days and the next processing run immediately thereafter
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
Pfizer offers suppliers the opportunity to check the current status of their invoices through an accounts payable portal. Suppliers can view when their invoice is due for payment on this portal. The tool is offered free of charge.
In case a supplier needs to contact Pfizer accounts payable department, an email address is available on every purchase order the supplier receives. Pfizer accounts payable department aims to resolve issues as promptly as possible, on average between 3 to 5 working days.
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.
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