KIMBERLY-CLARK EUROPEAN SERVICES LIMITED

Company number: 04071548

Reporting period:
1 July 2020 to 31 December 2020

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This report was filed on 29 January 2021

and approved by Kelly Tilooh

Payment statistics

Average time taken to pay invoices: 135 days

Invoices paid:

• within 30 days: 14%
• in 31 to 60 days: 28%
• in 61 days or more: 58%

Invoices due but not paid within agreed terms: 44%

Payment terms

Shortest standard payment periods

3 days

Longest standard payment period

183 days

Standard payment terms

a. Kimberly-Clark has established global payment terms. Only the payment terms approved centrally are allowed with suppliers, whether covered by contract, Purchase Order or non-Purchase Order. Only if there is a long-term need and there is sufficient reason not to adopt the nearest standard global term, regional exceptions can be requested through an established exception approval process. It is expected to have the regional exceptions reviewed periodically to ensure they are still valid. b. As standard we have a set of Net Payment terms (from invoice date or invoice receipt date according to regional initiatives) ranging from Immediate payment to 180 days payment, a set of payment terms with discount (where early payment leads to a pre-agreed discount %).

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

183 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

1. Issues with invoice payments are being highlighted to Accounts Payables for resolution. If there is no resolution, the issue is being escalated to the key business contact at Kimberly-Clark. 2. If key contact agrees to complaint then he/she will internally escalate to ensure necessary actions are being taken within the organization. If actions are delayed there is an escalation process to highlight the gap to management. 3. If key contact does not agree to complaint and both parties are not able to come to an agreement, the issue will be escalated to the Procurement contact to mediate. If no resolution can be achieved, it might require legal involvement.

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.

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