GOV.UK
VESTAS OFFSHORE WIND BLADES UK LTD
Company number: 09170456
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 14 September 2023
and approved by Emma Bergman
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 27%
- in 61 days or more: 28%
Invoices due but not paid within agreed terms: 19 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
95 days
Standard payment terms
End of Month plus 60 days plus 5 is our target payment terms. For smaller suppliers with spend below €50k it is 30 days End of month plus 5 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
95 days
Any other information about payment terms
The business standard payment terms are end of month plus 60 days plus 5 - variations are agreed for individual circumstances.
Dispute resolution process
Invoices that cannot be validated are queried out to the business using an integrated workflow solution which is constantly monitored to ensure responses are received in the required timescales. Vendors can contact the Shared Service Centre Help desk with any queries via email or phone Monday to Friday. A ticketing solution is used to monitor queries where the answer is not provided instantly.
Invoices to NEUVWSinvoices@vestas.com,
Payment and any other queries to financesscsap@vestas.com
Statements to financesscsoa@vestas.com
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