SHERWIN-WILLIAMS UK LIMITED

Company number: 02968830

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 12 July 2024

and approved by Simon Walker

Payment statistics

Average time taken to pay invoices: 61 days

Invoices paid:

• within 30 days: 15%
• in 31 to 60 days: 38%
• in 61 days or more: 47%

Invoices due but not paid within agreed terms: 81%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

Our standard payment terms are 60 DAYS MEDOI (End of the Month plus 60 days).

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

Answer not provided

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

N/A

Maximum contractual payment period agreed

120 days

Our maximum negotiated payment terms have been NET 120 (120 days) these were requested by the supplier as their preferred payment terms

Any other information about payment terms

There have been no changes to the standard payment terms in the reporting period and individual changes must be re-negotiated on a case by case basis with our local sourcing manager.

Dispute resolution process

We take resolving disputes related to payment very seriously assigning each case a ticket in service now and we provide regular updates including weekly on hold reports, monthly KPI reviews and meetings with key contacts.

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, 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.

Yes

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