ELECTROLUX PLC
Company number: 02331516
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
18 January 2024
Approved by:
Guillaume de Noinville
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 60%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 99%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
60 days plus end of month
Exceptionally both shorter and longer payment terms can be offered for various types of companies by agreement.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
120 days
120 days plus end of month
Any other information about payment terms
Standard payment runs are made weekly therefore undisputed invoices can be paid up to 6 days late. In addition payments made can take up to 2 days to clear the bank. 17% of invoices remained unpaid more than 6 days after the due date. Following a change in the accounting for intercompany supplies, 97% of the total transactions in the data relate to intercompany supplier invoices versus 3% for third party suppliers, which skews the data. If the intercompany invoices are excluded then the calculation, the % of invoices paid late is 57% and 6% of invoices remain unpaid more than 6 days after the due date.
Dispute resolution process
Suppliers are provided with standard payment instructions, which advises information required on invoices to minimise payment delays, addresses to send invoices to and encourages electronic invoicing. Any disputes should be directed to the company contact or the Accounts payable team in Poland at Electrolux Poland Sp. z o.o. - 30-570 Kraków , al. Powstańców Śląskich 26. Email queries can also be sent to ap_uk@electrolux.de. We aim to respond to correspondence within 2 days and are committed to resolving issues in a timely manner.
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 Fair 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.
Yes
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