WELLINGTON MANAGEMENT INTERNATIONAL LIMITED
Company number: 04283513
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Edward Steinborn
Payment statistics
Average time taken to pay invoices: 17 days
Invoices paid:
- within 30 days: 87%
- in 31 to 60 days: 8%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Wellington pays terms of Net-30 only when they are reflected in a contract or any related contractual documents (e.g. purchase orders) with vendors and suppliers. However, if none exist or specific payment terms are not referenced we default to the payment terms noted on the supplier invoice.
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Vendor relationships are maintained at a local level. Any disputes would be raised with the Wellington point of contact for that relationship, as opposed to any centralised department. It would then be the responsibility of this staff member to resolve any issues with the vendor.
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