SCHENKER LIMITED
Company number: 00383914
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
31 January 2022
Approved by:
Declan Byrne
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 33%
- in 31 to 60 days: 63%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 26%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
45 days
Standard payment terms
The company follows a policy whereby supplier payment terms are agreed prior to entering into any contracts or transactions. These payment terms are upheld based on the timely and accurate submission of invoices. The standard payment terms are 45 days
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
The majority of suppliers are on our standard payment terms. However, there are instances where different payment terms are agreed with suppliers.
Any other information about payment terms
No further comment provided
Dispute resolution process
The company has robust processes and controls in place that must be followed with the objective of making payments within relevant terms. When disputes arise, the company aims to resolve these in a timely manner so that both parties can come to a resolution and payment be made accordingly.
Disputes are resolved by the relevant contract owner within the business. Request for credits or back up documentation is requested at source. Disputed invoices will sit with the approver until resolved. The Shared Service Center send weekly reports of stopped invoices and actively manage the dispute resolution process with both suppliers and internal staff.
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 Fair 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.
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