GOV.UK
DIAGEO GREAT BRITAIN LIMITED
Company number: 00507652
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 31 July 2018
and approved by Kerryn Haynes
Payment statistics
Average time taken to pay invoices: 77 days
Invoices paid:
- within 30 days: 2%
- in 31 to 60 days: 32%
- in 61 days or more: 66%
Invoices due but not paid within agreed terms: 15 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
60 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
120 days
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. Following submission of our payment data in January, we have been working to reduce and minimise any invoice process errors caused by us or our suppliers. And in June, we also amended our payment runs for SMEs to ensure they receive payment within 60 days.
Any other information about payment terms
A preferential Supplier Financing facility is available to our suppliers. This arrangement enables payment to suppliers earlier than standard or contracted payment terms.
Dispute resolution process
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.
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.
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