Published reports

UPFIELD FOODS UK LIMITED

Company number: 09521994

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

Reporting period:

1 July 2018 to 31 December 2018

Report filed on:

1 February 2019

Approved by:

Dan Balmer

Payment statistics

Average time taken to pay invoices: 56 days

Invoices paid:

within 30 days: 40%
in 31 to 60 days: 22%
in 61 days or more: 38%

Late and disputed:

payments due in the reporting period which have not been paid within the agreed period: 3%

Payment terms

Shortest standard payment periods

120 days

Longest standard payment period

Answer not provided

Standard payment terms

Upfield Foods UK Ltd payment terms are 120 days from receipt of a valid invoice. Exceptions do exist and would cover organisations such as charities, business associations and SME suppliers who attract payment terms of 30 days from receipt of invoice.

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

Changed from 90 days from invoice date to 120 days from invoice date following the sale of Unilever BCS UK Ltd (now Upfield Foods UK Ltd) fromUnilever to KKR.

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

Existing suppliers remain with 90 day, or otherwise agreed, terms. Only new suppliers are required to to adhere to 120 day terms (unless classed as SME and eligible for 30 day terms). Payment terms are disclosed and negotiated during vendor setup procedure.

Maximum contractual payment period agreed

120 days

No further comment provided

Any other information about payment terms

No further comment provided

Dispute resolution process

Unilever currently managed payable processes as part of TSA. Suppliers can get in touch with Unilever's Accounts Payable Helpdesk for any invoice or payment queries via phone, email , by logging a request on our website or using the self- service Vendor Query Portal : https://www.unilever.com/about/suppliers-centre/how-to-invoice-us/north-america-europe/. The website also provides information on what to include on invoices, how to read a purchase order or escalate an existing query.

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.

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?