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Company number: 00727817

Reporting period:
1 April 2018 to 30 September 2018

Warning This information is as reported by the business, and responses are in their own words.

This report was filed on 31 October 2018

and approved by Angela Noon

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

Invoices due but not paid within agreed terms: 15 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

120 days

Standard payment terms

The payment terms are assigned by the Business units on a case by case basis. Payment terms usage is as follows :-
Intercompany clearing transactions paid immediatly 48% . Note Intercompany clearing terms are available to Siemens companies only and are cleared via cash pooling without transmission of money.
3rd party payment terms 60 days 23%, 30 days 9%, 90 days 8%, 96 days 4%, immediate 3%, 28 days 1%, 45 days 1%, 75 days 1%, . Remainder are Terms with less than 1% occurrences which also includes the longest term 120 days.

> KPI's excluding ICC clearing) are stated as follows:
Average days to pay : 54 days ,Payment timing up to 30 days 26% , 31-60 days 31%, 61 days & above 43%, Late invoices 24%.

Were there any changes to the standard payment terms in the reporting period?

Yes – Changes were made to payments terms assigned to suppliers on a case by case basis.

Were suppliers notified or consulted about these changes before they were made?

Yes – Changes were made in consultation with suppliers via meetings and correspondence.

Maximum contractual payment period agreed

120 days

120 Days is the standard term used for projects with a long term and agreed on a case by case basis . Includes Foreign suppliers with payments in Letters of Credits etc.

Any other information about payment terms


Dispute resolution process

1) Central Accounts Payable (AP) team for payment enquiries, contact points via phone/e-mail/supplier portal. Relevant details are on Purchase Orders. A) Tel: 0845 602 6873 b) E-mail
2) AP liaise with supplier to obtain and process missing invoices and Check existing systems (scan provider / e-invoice provider/invoice process queue to see if invoice already in query and/or returned to suppler)
3) AP liaise with suppliers to confirm payment details (past and upcoming)
4) AP liaise with approvers to release overdue invoices for payment
5) Special team deals with ‘final demand’ cases and legal notices

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.


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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?