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W.L. GORE AND ASSOCIATES (U.K.) LIMITED

Company number: 00856254

Reporting period:
1 April 2023 to 30 September 2023

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This information is as reported by the business, and responses are in their own words.

This report was filed on 19 October 2023

and approved by Sheona Barlow

Payment statistics

Average time taken to pay invoices: 32 days

Invoices paid:

• within 30 days: 83%
• in 31 to 60 days: 13%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 11 %

Payment terms

Shortest standard payment period

1 days

Longest standard payment period

60 days

Standard payment terms

W. L. Gore & Associates (UK) Limited standard terms of third party invoices for goods and services are 30 days from the invoice date on a correctly presented invoice, unless in accordance with the supplier terms. A correctly presented invoice is defined as the receipt of a complete, undisputed and properly due VAT invoice that is addressed correctly as specified in the contract. The invoice will be paid in the subsequent payment run after the due date. Payment runs are scheduled once per week.
In line with our corporate values, where the supplier is deemed to be a Small or Medium sized Entity (SME) the Standard payment terms are reduced to under 30 days in accordance with the supplier terms.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

The quoted 11% includes invoices with short payment terms i.e. 1 to 14 days. It also includes those invoices which have been delayed due to requiring additional information from the supplier/business for processing and approval.

Dispute resolution process

W. L. Gore & Associates (UK) Limited is committed to our communities and acting with integrity. We therefore seek to advise suppliers promptly of any disputes. Invoices that are subject to dispute will not be paid until resolution of the dispute. Depending upon the issue, disputes are resolved by discussion and agreement with the supplier and are typically managed by purchasing teams / business. Once resolved, payment will be made in accordance with the terms of the contract.

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