Company number: NI003755
and approved by Kieran Gowing
Average time taken to pay invoices: 71 days
Invoices paid:
Invoices due but not paid within agreed terms: 7%
59 days
60 days
Standard contractual terms for payment of invoices 60 days
Answer not provided
N/A
120 days
Our standard payment terms are 60 days and invoices will be paid in the weekly payment run that occurs following this. Contracts with up to 120 day terms are limited to large strategic supply partners
A preferential Supplier Financing facility is available to our suppliers. This arrangement enables payment to suppliers earlier than standard or contracted payment terms.
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.
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Prompt Payment Code. Invoices are paid in line with contracted terms and where suppliers participate in Supplier Financing, this facility enables payment to suppliers earlier than standard or contracted payment terms
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No