GOV.UK
GLANBIA CHEESE LIMITED
Company number: 02594981
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 26 July 2022
and approved by Mark Garvey
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 61%
- in 31 to 60 days: 30%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 19 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
Our standard payment period is referenced at 60 days from date of Invoice
Our payment period for Capital items can be 30 days, initial deposit often 40% plus a final 10% upon final completion.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
1825 days
Our longest contract for normal suppliers is 5 years with annual price discussions and annual break clauses related to performance.
Any other information about payment terms
na
Dispute resolution process
Suppliers who have a dispute or complaint about payments are directed to our central purchasing function, where their query will be compared with the agreed contractual terms, and discussed with the supplier.
If mutually agreed then the terms can be amended to new terms. We have very few disputes or complaints about payment terms, as all of our suppliers have clearly agreed payment terms and payments for due invoices are made weekly.
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.
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