GOV.UK
ELECTRIUM SALES LIMITED
Company number: 02226729
Reporting period:
1 April 2022
to 30 September 2022
This report was filed on 24 October 2022
and approved by Robert James Peters
Payment statistics
This company stated that it entered into qualifying contracts in the reporting period, but did not make any payments.
Invoices due but not paid within agreed terms: 19 %
Payment terms
Shortest standard payment period
60 days
Longest standard payment period
150 days
Standard payment terms
The payment terms are assigned by the Business units on a case by case basis:- Payment terms usage : -
60 days 41%, 30 days 10%, 90 days 12%, 7 days 2%, 120 days 9%,Payable Immediately 1% and others less than
1%.
Intercompany cut-off paid immediately in the month after the month of reciept of invoice 25% .
Please note Intercompany clearing terms are available to Siemens companies only and payment method for such
terms results in clearing of such transactions without any transmission of money external to Siemens cash pool.
The payment statistics excluding the ICC transactions are as follows :-
Average time it took to pay an invoice 62 days. Split of payments 0-30 days 19%, 31-60 days 25%, 61+days 56%.
Were there any changes to the standard payment terms in the reporting period?
Yes – Holder Industries extended terms to 150 Days for one month
Were suppliers notified or consulted about these changes before they were made?
Yes – Email and agreed prior to extention
Maximum contractual payment period agreed
120 days
120 Days is the standard term used for projects with a long term and agreed on a case by case basis . Includes
Foreign suppliers with payments in Letters of Credits etc.
Any other information about payment terms
N/A
Dispute resolution process
1) Central Accounts Payable (AP) team for payment enquiries, contact points via phone/e-mail/supplier portal.
Relevant details are on Purchase Orders. A) Tel: 0845 602 6873 b) E-mail apsupport-gbandi.in@siemens.com
2) AP liaise with supplier to obtain and process missing invoices
a) Check existing systems (scan provider/e-invoice provider/invoice process queue to see if invoice already in query
and/or returned to suppler)
3) AP liaise with suppliers to confirm payment details (past and upcoming)
4) AP liaise with approvers to release overdue invoices for payment
5) Special team deals with ‘final demand’ cases and legal notices
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.
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