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CIRRUS LOGIC INTERNATIONAL SEMICONDUCTOR LTD.

Company number: SC495735

Reporting period:
1 April 2018 to 30 September 2018

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

This report was filed on 29 October 2018

and approved by Pedro Andrade

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 24%
• in 31 to 60 days: 73%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 24 %

Payment terms

Standard payment period for qualifying contracts

45 days

Standard payment terms

Our standard payment terms are to pay invoices on the 1st or 15th of the month following the due date of the invoice, which is 45 days from the date the invoice is received by the Accounts Payable Department. Alternative terms can be agreed with individual vendors. If a valid invoice is received promptly at the correct email address, quoting a valid purchase order, it will be paid according to the payment terms. The correct invoicing address, which is quoted on all purchase orders is AP_UKAU@cirrus.com. If invoices cannot be emailed they should be sent to Cirrus Logic International Semiconductor Ltd at 7B Nightingale Way, Quartermile, Edinburgh, EH3 9EG.

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

No

Maximum contractual payment period agreed

45 days

Any other information about payment terms

N/A

Dispute resolution process

At Cirrus Logic, we try to resolve any invoice disputes or queries as quickly as possible. Queries regarding the status of an invoice can be directed to the Accounts Payable Team via the following email address: APSupport@cirrus.com. If any disputes arise, Procurement will review the terms of the agreement and work with the vendor to address the dispute accordingly.

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