GOV.UK
MANHEIM LIMITED
Company number: 00448761
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 9 February 2024
and approved by Ryan Carson
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 78%
- in 31 to 60 days: 22%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 8 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Our standard terms for payment of supplier invoices are 30 days after receipt of the invoice and none of our suppliers are on terms in excess of this. We have however agreed shorter payment terms for a limited number of our suppliers.
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
N/A
Dispute resolution process
Purpose
Delivery of goods or services to Manheim Limited may sometimes lead to disputes between the business and the supplier. These disputes can vary in nature but are most commonly based around quality of delivery of the goods or services requested or payment disputes.
This policy documents the procedure and escalation process in which should be followed in order to resolve any disputes within the supply chain. Please note this policy describes the processes to be followed in the examples of sub-standard delivery of goods and services and payment disputes however where disputes have arisen outside of these examples, the GSCD will decide which escalation route to follow.
Applicability and Authority
• This Policy applies to all contracted suppliers of goods or services to Manheim Ltd.
• This Policy applies to all Manheim ltd departments and supersedes any practices in existence prior to its effective date
• The GSCD of the given supplier category is the authority on managing the relationship with all suppliers within the category.
• The Group General is the final authority on contractual terms of agreement.
• The Chief Financial Officer is final authority on all financial aspects of any dispute.
Definitions
Dispute Resolution: A process for resolving differences between two or more parties or groups. In business practice the resolution seeks to achieve fairness for all participants.
Procedure
Should a dispute arise, the initial relevant parties should try to resolve at the transactional level by contacting the supplier direct and discussing the issues which have arisen. If no satisfactory outcome is achieved, it is the responsibility of the initial relevant parties to document all the facts relating to the issue and inform the relevant GSCD whom is responsible for the given category of supplier.
At this point the GSCD will take control of negotiations directly with the supplier management / senior management in order to reach resolution whether through contractual review or an amicable outcome. If, again no resolution is made, the GSCD will then escalate through the Manheim Ltd hierarchy to take control of the negotiations. This process will then continue as per the below escalation examples. Once a resolution has been agreed, communication will be made to the initial party of the outcome.
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