Company number: 03780764
and approved by Craig Prendergast
Average time taken to pay invoices: 69 days
Invoices paid:
Invoices due but not paid within agreed terms: 68%
0 days
124 days
For 3rd Party suppliers, the global payment terms are 90 days end of month from date of invoice with payment by the 4th working day of the following month. These terms are applied to new suppliers, and to new contracts. The procurement teams based in the local business units can deviate from these standard terms based upon spend and size of supplier company. For intercompany suppliers, the standard terms are 60 days from date of invoice
There has been a change on the intercompany payment terms. This came into effect from the 1st Jan 2023
As this is a global policy, all entities within the group were notified of this change
124 days
No further comment provided
N/A
The business process for resolving disputes is managed by the local business Procurement teams, together with a central AP team. There is a ‘No PO No Pay’ policy in place throughout the organisation.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No