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Company number: 05281630

Reporting period:
1 July 2020 to 31 December 2020

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

This report was filed on 27 January 2021

and approved by Euan Cameron

Payment statistics

Average time taken to pay invoices: 36 days

Invoices paid:

Invoices due but not paid within agreed terms: 23 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

90 days

Standard payment terms

Thermo Fisher Corporate payment term expectations are net 75 days / 2% discount for payment within 15 days of invoice date.
Where deemed applicable, Purchasing discuss the Corporate payment terms with suitable Suppliers and where feasible, agreement is made between both parties for ongoing business on this basis.
As a site, we do not adopt a “standard payment terms” policy owing to the varied site spend requirements, related purchasing strategies utilised and the diverse types of supplier required.
Purchasing uphold a steadfast stance that undue financial constraints on Suppliers are counterproductive. As such, before approaching Suppliers to discuss and agree payment terms, the nature of business (size/type), industry and likely future requirements are considered.
All Payment Terms that are established between FCS and Suppliers are always done so on a mutually agreed basis.

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


Maximum contractual payment period agreed

90 days

Any other information about payment terms


Dispute resolution process

All payment terms are mutually agreed between both parties and Purchase Orders placed on this basis with clear “bill to” information indicated and Instructions to reference the Purchase Order number are clearly displayed on this document. This is done to proactively help avoid common reasons for delays in payment.
Purchasing contact details are clearly shown on the covering e-mail as a specific point of contact to enable first point communication.
At Order fulfilment or at agreed milestones indicated on the Purchase Order, invoices can be sent by the Supplier for payment. Payment Terms are applied based on the date of invoice unless deemed reasonable to utilise the date of receipt i.e. late receipt of invoice.
Should an invoice contain erroneous information, this is queried internally by Account Payable with Purchasing to resolve. Should this not be possible, the Supplier will be notified of the query with the aim of providing assistance to avoid late payment.

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?