Company number: 03227459
and approved by Jane Wang
Average time taken to pay invoices: 83 days
Invoices paid:
Invoices due but not paid within agreed terms: 11%
40 days
80 days
Standard payment terms for smaller suppliers* are five (5) days after the end of the calendar month following 20 days from the date of the invoice. Standard payment terms for all other invoices are five (5) days after the end of the calendar month following 60 days from the date of the invoice. The payment period is therefore determined by when a supplier submits an invoice, with the shortest period being 65 days and the longest being 95 days, with an average of 80 days. Specific payment terms outside the standard terms are agreed with some suppliers on a case-by-case basis. Our full standard conditions of purchase are available at: https://www.cocacolaep.com/assets/Terms-of-purchase/CCEP-Standard-Conditions-of-Purchase-EN.pdf A list of exceptions to our standard conditions of purchase is available at: https://www.cocacolaep.com/company/payment-terms-exceptions/ * A small supplier is one that has an annual supply to CCEP of less than £100,000 (excluding VAT) and falls within the EU SME definition recommendation 2003/361 (i.e. fewer than 50 employees and either turnover of £10 million or less or balance sheet total of £10 million or less).
Answer not provided
N/A
126 days
No further comment provided
If the payment date is a weekend or a public holiday, payment shall be made on the next working day following the weekend or public holiday. The number of invoices covered by this report is less than 600 in total. Our goal is to ensure we pay every invoice within the agreed time period. There are a number of reasons why invoices may not be paid on agreed terms, including administrative and processing errors, mistakes on invoices and, in some cases, a dispute over the invoice. We recognise the importance of paying our suppliers on time and continue to work hard to reduce the percentage of our invoices paid late.
If CCEP reasonably and in good faith disputes its obligation to pay part or all of an invoice submitted by a supplier, then CCEP notifies the supplier in writing of the amount of the invoice which it is disputing and the reasons why it considers it is not obligated to pay that amount. Payment disputes are initially handled by the Accounts Payable team, with support from the relevant procurement contact/buyer where appropriate. If a satisfactory outcome cannot be reached, the issue will be escalated within the organisation to the legal team if required.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No