GOV.UK
ERICSSON LIMITED
Company number: 00942215
Reporting period:
1 July 2022
to 31 December 2022
This report was filed on 24 January 2023
and approved by Liam O'Brien
Payment statistics
Average time taken to pay invoices: 73 days
Invoices paid:
- within 30 days: 10%
- in 31 to 60 days: 51%
- in 61 days or more: 39%
Invoices due but not paid within agreed terms: 9 %
Payment terms
Shortest standard payment period
90 days
Longest standard payment period
91 days
Standard payment terms
Invoicing and payment shall be made electronically via PDF or Taulia in accordance with Ericsson’s instructions. Paper invoicing no longer supported. A valid invoice shall at a minimum contain a reference to the PO, Seller’s name and address, and specification of the Products or Services purchased. With deviation from what otherwise may be provided for under applicable law, it is expressly agreed that payment shall be effected within ninety (90) days from date of complete and successful delivery of the Products or Services, including any documents, and receipt of a correct invoice. Further guidelines and requirements for invoices, including support for e-invoicing and supplier self-service can be found at http://www.ericsson.com/thecompany/sourcing/supplier-partner-resources/invoicing-payments. In case of delayed payment of approved invoices, the seller shall notify Ericsson thereof and Ericsson shall thereafter expedite the payment
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
If the dispute cannot be resolved through the regular Sourcing contact, then the general position is that the dispute would initially be escalated to the UK Head of Vendor Management and if not resolved, would be escalated further to the UK Head of Sourcing for final resolution.
If the dispute is not resolved at this stage, the dispute resolution process outlined in the General Services Agreement between Ericsson and the Supplier will be effected. This involves notification of the Managing Directors of both parties, a mediation request made and being granted and Expert determination being consulted. In the event that the dispute is not resolved by these means, the dispute goes to arbitration, involving legal (and ultimately court) proceedings.
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