DELOITTE GFS LIMITED
Company number: 10798403
Reporting period:
1 June 2023 to 30 November 2023
Report filed on:
12 February 2024
Approved by:
Donna Louise Ward
Payment statistics
Average time taken to pay invoices: 17 days
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 21%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 36%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
Deloitte is a network of independent member firms operating in particular countries and territories under a common brand, with certain entities that serve a coordinating role for the network. Deloitte GFS Limited (GFS) is an entity that acts as a captive service provider for certain members of the Deloitte network. GFS does not provide services to out-of-network customers or clients.
GFS’ standard payment period is 45 days from receipt of an approved invoice. This payment period is typically used when contracting with other Deloitte entities (in-network suppliers). In the limited circumstances that GFS has contracted with entities external to the Deloitte network (out-of-network suppliers), GFS has not required use of its standard payment period.
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
45 days
No further comment provided
Any other information about payment terms
For this reporting period, GFS identified no qualifying contracts or related payments with any out-of-network supplier.
For purposes of calculating the payment statistics in these disclosures, GFS has relied on its accounts payable data. In some cases, such as when there is an established business practice with a supplier, these payment terms may vary from contractually-agreed-upon terms.
Dispute resolution process
GFS is committed to fair business practices and acting with integrity. GFS endeavours to resolve all invoicing disputes in a fair and timely manner.
In the event of an out-of-network dispute, out-of-network suppliers are encouraged to work with their primary GFS business contact to amicably resolve the matter. Unresolved matters can be finally settled in accordance with the agreed-upon contract terms.
In the event of an in-network dispute, in-network suppliers are required to attempt to negotiate a resolution with GFS in good faith. Unresolved disputes may be escalated through in-network governance mechanisms and, if necessary, resolved through arbitration.
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.
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