VESTAS OFFSHORE WIND UK LTD
Company number: 05798594
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
29 January 2024
Approved by:
EMBER
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 30%
- in 61 days or more: 24%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 27%
Payment terms
Shortest standard payment periods
95 days
Longest standard payment period
Answer not provided
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
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
94 days
No further comment provided
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.
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