GENERAL MILLS UK LIMITED
Company number: 04633664
Reporting period:
30 November 2022 to 28 May 2023
Report filed on:
16 June 2023
Approved by:
David Brodowska
Payment statistics
Average time taken to pay invoices: 62 days
Invoices paid:
- within 30 days: 21%
- in 31 to 60 days: 33%
- in 61 days or more: 45%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 35%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms are 90 days from the invoice date to pay the full amount per the invoice with prior agreement from the vendor.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
For any disputes or queries, suppliers can call 0800 227 43600 or email Apcustomerservices.english@genmills.com. The team will investigate any delays or issues in payment in order to resolve any queries as soon as possible.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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