GLENCORE UK LTD.
Company number: 01170825
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
1 February 2024
Approved by:
Louise Bullen
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 86%
- in 31 to 60 days: 10%
- in 61 days or more: 4%
Late and disputed:
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
30 days
Standard payment terms
Consistent with normal industry practices: Overheads – variety prompt upon receipt to 30 days Payment terms are agreed with suppliers as part of contract negotiations. The most commonly used terms are 30 days, but payment terms vary by company and service provided and could be longer or shorter as mutually agreed. Once authorised, vendor invoices are paid when contractually due through regular payment runs.
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
30 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
The process for resolution of disputes involves discussion with our commercial & legal teams to review facts and circumstances and recommend resolutions.
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.
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