PPG INDUSTRIES (UK) LIMITED

Company number: 02110620

Reporting period:
1 January 2024 to 30 June 2024

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

This report was filed on 29 July 2024

and approved by Ruth Dixon

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

within 30 days: 46%
in 31 to 60 days: 28%
in 61 days or more: 26%

Invoices due but not paid within agreed terms: 24%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

All qualifying contracts can be categorised as follows Raw Material- 30 days from invoice date Goods For Resale- 60 days from invoice date Packaging- 30 days end of month General Purchasing - 60 days from invoice date Logistics - 60 days from invoice date Intercompany- 30 days end of month

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

The maximum contractual payment period set out in the Company’s response to question 2E is very much a one-off and the Company has not negotiated any other payment terms of that order of magnitude.

Any other information about payment terms

The Company does not currently have in place a system to capture for all invoices the date of receipt of each invoice. As a consequence the Company has decided to use as the start date the date of invoice. Similarly, the Company’s systems do not have the functionality to identify for all invoices the actual date that the supplier received payment. Also, the Company’s payment systems are set up only to pay invoices on the due date for payment. Accordingly, in its calculation of the time taken to pay each invoice, the Company has added (in accordance with the UK Government’s guidance) the standard time it takes for a payment to clear in the supplier’s bank account (depending on the method of payment). This approach has no doubt contributed to an artificial inflating of the number of days it takes to pay invoices. Accordingly, this should be borne in mind when reviewing the Company’s responses to 1A, 1B and 1C above. Regarding the response to question 1C, if the Company was able to re-set the date of payment 3 days earlier than the payment due date (to ensure each supplier received payment of its invoice in cleared funds), then the actual statistic would be reduced to 15 % for this reporting period.

Dispute resolution process

The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone’s satisfaction prior to payment being made. Our suppliers can contact AP department via email: APBrnoUK@ppg.com and should receive reply within 2 working days. These contact details can be found on the purchase orders

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.

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?