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CUMMINS GENERATOR TECHNOLOGIES LIMITED

Company number: 00441273

Reporting period:
1 July 2021 to 31 December 2021

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

This report was filed on 26 January 2022

and approved by ANTONIO LEITAO

Payment statistics

Average time taken to pay invoices: 55 days

Invoices paid:

• within 30 days: 25%
• in 31 to 60 days: 48%
• in 61 days or more: 26%

Invoices due but not paid within agreed terms: 44 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

120 days

Standard payment terms

Global standard payment terms are 120 days, except where differing regional norms or government requirements exist. Intercompany suppliers have 60 day payment term.

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

No

Maximum contractual payment period agreed

120 days

Any other information about payment terms

We actively encourage diverse suppliers and exercise discretion on the payment terms for such organisations

Dispute resolution process

Cummins is committed to working with our suppliers to help achieve on-time, accurate payments. Any disputes will be dealt with first by the appropriate sourcing manager and, upon escalation, the Accounts Payable Department in Cummins Business Services located in the UK. The Accounts Payable team can be contacted Monday to Friday by e-mail or phone. Further contact information and guidance on submission of invoices can be found on supplier.Cummins.com.

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.

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