TUI UK LIMITED

Company number: 02830117

Reporting period:
1 October 2020 to 31 March 2021

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This report was filed on 30 April 2021

and approved by Henrik Andersson

Payment statistics

Average time taken to pay invoices: 101 days

Invoices paid:

• within 30 days: 18%
• in 31 to 60 days: 20%
• in 61 days or more: 62%

Invoices due but not paid within agreed terms: 63%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

Standard = 60 days from invoice date - applies as a general rule unless otherwise negotiated Hotels = 60 days from invoice date (as per contracts) - applies as a general rule unless otherwise negotiated Intercompany = payable on request, due to cash being managed on a group basis.

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

COVID-19 has resulted in amended supplier payment terms, payment plans and deferrals of payments being agreed with many suppliers.

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

TUI has had open and constructive discussions with suppliers regarding payment terms. This was done on a supplier by supplier basis and some of the negotiations are still ongoing

Maximum contractual payment period agreed

60 days

None

Any other information about payment terms

None

Dispute resolution process

There is a centralised APhelpdesk email address which inbox is monitored daily and the queries allocated to the relevant teams within AP to action - aiming to provide a resolution within 30 days.

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.

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