Company number: NI003755
and approved by Aisling Talbot
Average time taken to pay invoices: 84 days
Invoices paid:
Invoices due but not paid within agreed terms: 8%
60 days
Answer not provided
Our standard payment terms are 60 days and we are committed to 60 days standard payment terms for all SMEs in the UK. Any longer payment terms for larger suppliers (not SMEs) are appropriately negotiated and mutually agreed. In the last 6 months, the average time to pay SMEs was below 60 days. We continue to work hard to minimise process related errors, caused either by us or our suppliers, to enable payment to terms. We have introduced a Supplier Service Hub which gives suppliers self-service access to track invoices and payments.
Answer not provided
N/A
120 days
No further comment provided
A preferential Supplier Financing facility is available to our suppliers. This arrangement enables payment to suppliers earlier than standard or contracted payment terms.
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.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No