STRYKER UK LIMITED
Company number: 03669454
Reporting period:
1 January 2022 to
30 June 2022
This report was filed on 5 August 2022
and approved by Robert Mills
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 44%
- in 31 to 60 days: 55%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 2%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
The Payables policy targets standardized payment terms across Stryker with all third party vendors of 90 days. Intercompany invoices represent 93% of invoice volume and are paid on 30 day terms.
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
90 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Suppliers can contact Stryker's dedicated accounts payable team. Such contacts would generally seek to deal with any disputes promptly in accordance with terms of the contract.
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