TUI UK LIMITED
Company number: 02830117
Reporting period:
1 October 2022
to 31 March 2023
This report was filed on 28 April 2023
and approved by H Andersson
Payment statistics
Average time taken to pay invoices: 63 days
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 41%
- in 61 days or more: 47%
Invoices due but not paid within agreed terms: 59 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Standard = 30 days from invoice date
Hotels = 60 days from invoice date (as per contracts)
Intercompany = immediate on receipt of invoice
The tour operator part of our business (TUI UK Limited) makes prepayments on account to hoteliers to help with their seasonality / cash flow through the quieter months.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
None
Any other information about payment terms
None
Dispute resolution process
There is a centralised APhelpdesk email address which is monitored daily and the queries allocated to the relevant teams within AP to action - aiming to provide a resolution within 30 days.
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