YUNEX LIMITED
Company number: 13199800
Reporting period:
1 April 2024 to 30 September 2024
Report filed on:
29 October 2024
Approved by:
Stuart Jones
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 43%
- in 31 to 60 days: 52%
- in 61 days or more: 5%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 27%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
The payment terms are assigned by the business on a case by case basis. Transactions on Intercompany payment terms constitute 0.4% of the transactions and are paid in the month of invoice receipt. Please note Intercompany clearing terms are available to Yunex Group companies only and this payment method results in clearing of such transactions without any transmission of money external to Yunex cash pool. As the number of intercompany payments are small in number in comparison to external supplier invoice payments, the different payment process for intercompany transactions does not have any meaningful impact on the Company's payment statistics.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
N/A
Any other information about payment terms
No further comment provided
Dispute resolution process
1) Central Accounts Payable (AP) team for payment enquiries, contact points via e-mail. Relevant details are on Purchase Orders. E-mail invoicesyunex.gb@siemens.com 2) AP liaise with supplier to obtain and process missing invoices a) Check existing systems (scan provider/e-invoice provider/invoice process queue to see if invoice already in query and/or returned to suppler) b) AP liaise with suppliers to confirm payment details (past and upcoming) and resolve any queries which are delaying payment c) AP liaise with approvers to release overdue invoices for payment 3) Special team deals with ‘final demand’ cases and legal notices
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.
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