TREASURY WINE ESTATES EMEA LIMITED
Company number: 02059191
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 4 March 2021
and approved by Caroline Burns
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 26%
- in 61 days or more: 20%
Invoices due but not paid within agreed terms: 10 %
Payment terms
Standard payment period for qualifying contracts
65 days
Standard payment terms
65 days EOM
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
65 days
No
Any other information about payment terms
No
Dispute resolution process
The main point of contact for disputes is the Accounts Payable team in London. The appropriate email address for all invoices and queries is UKAccounts.Payable@tweglobal.com. When an invoice is disputed, the supplier will receive an email from the relevant Treasury Wine Estates employee indicating the invoice number and reason for rejection. To resolve a dispute, the supplier is required to provide any missing information or a corrected invoice. Treasury Wine Estates follow a strictly no PO no pay policy. The PO number is communicated by the relevant Treasury Wine Estates employee at the time of placing the order.
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.
No
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.
No
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