DEPUY INTERNATIONAL LIMITED
Company number: 03319712
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
25 January 2024
Approved by:
Gemma Kurring
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 44%
- in 31 to 60 days: 49%
- in 61 days or more: 7%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 15%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
46 days
Standard payment terms
The standard PTs for the UK are 45 days payable twice monthly for POs that are not govern by a contract, 60 days payable twice monthly for POs governed by a contract (*Contract means: a written agreement, where payment term and frequency is negotiated and expressly consent to by the Supplier) and 60 days payable daily for Small and Medium Enterprises (Small & Midsize Enterprises ("SME") are defined as companies with at least two of the following characteristics: 1. fewer than 250 employees, 2. maximum net turnover of €50m, 3. maximum asset value on the balance sheet of €43m). The payment terms in the UK are triggered by invoice receipt.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoices in dispute are handled individually as they occur. The AP team works closely with the business contacts who have requested the goods and service and the vendors directly to resolve any disputes promptly. For better and more effective communication and collaboration the vendors were split between AP team members, which helps address the issues to the right people instantly both inside and outside the company.
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.
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