INTEL CORPORATION (UK) LIMITED
Company number: 01134945
1 July 2020
to 31 December 2020
This report was filed on 28 January 2021
and approved by Tim Whitrow
Average time taken to pay invoices: 13 days
- within 30 days: 91%
- in 31 to 60 days: 8%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 1 %
Standard payment period for qualifying contracts
Standard payment terms
The majority of agreements between Intel Corporation (UK) Limited and suppliers contain payment terms whereby the Company is entitled to 2% Discount if payment are made to vendor within 10 days.
Other common payment terms that Intel Corporation (UK) Limited utilises are 30 Days Net, 45 Days Net, 60 Days Net and 90 Days Net.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
The first level of customer service provided to the supplier is through an online portal whereby supplier can log a ticket to check payment status of an invoice.
A matter can then be escalated to the Intel accounts payable Customer Service Team which represent the second level of the customer service provided to the supplier.
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 – 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.
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?