UP GLOBAL SOURCING UK LIMITED

Company number: 03357718

Reporting period:
1 August 2017 to 31 January 2018

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This report was filed on 28 February 2018

and approved by Graham Screawn

Payment statistics

Average time taken to pay invoices: 37 days

Invoices paid:

• within 30 days: 46%
• in 31 to 60 days: 32%
• in 61 days or more: 22%

Invoices due but not paid within agreed terms: 38%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

The standard term reflects the most frequently used payment term.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

The maximum contractual payment term is for invoices to be paid at the end of the second month, following the month of invoice.

Any other information about payment terms

N/A

Dispute resolution process

The main point of contact for disputes is the UP Global Sourcing UK Limited Purchase Ledger Department, contactable at Purchase-Ledger@upgs.com. We request that suppliers provide as much information on any enquiry including purchase order number and a contact name relating to the supply. Where an invoice is disputed, the supplier will be contacted by telephone or email to explain the dispute. To resolve a dispute the supplier is required to provide any missing information or provide a corrected invoice and/or credit note as appropriate.

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, 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.

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