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JOY GLOBAL (UK) LIMITED

Company number: 02546087

Reporting period:
1 April 2022 to 30 September 2022

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This information is as reported by the business, and responses are in their own words.

This report was filed on 27 October 2022

and approved by Philip Schley

Payment statistics

Average time taken to pay invoices: 64 days

Invoices paid:

• within 30 days: 13%
• in 31 to 60 days: 34%
• in 61 days or more: 53%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Shortest standard payment period

41 days

Longest standard payment period

47 days

Standard payment terms

Joy Global will pay for any goods and services within ten business from the last day of the month following the month in which: a) the goods are received by Joy Global; b) the services are provided to Joy Global; or c) a correct invoice for the goods or services that complies with the provisions of this purchase order is received by Joy Global".

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

With respect to supplier relationships, we encourage our buying teams to first attempt to resolve disputes commercially. Our buying team seek to deal with any disputes promptly (escalating to management as needed). In the event that the situation remains unresolved, the matter may be further escalated management and/or the Legal Department. Formal legal proceedings are very rare.

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.

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