EMC EUROPE LIMITED

Company number: 00990752

Reporting period:
3 February 2018 to 2 August 2018

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This report was filed on 16 January 2019

and approved by Janet Bawcom

Payment statistics

Average time taken to pay invoices: 69 days

Invoices paid:

• within 30 days: 27%
• in 31 to 60 days: 38%
• in 61 days or more: 35%

Invoices due but not paid within agreed terms: 26%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

80 days

Standard payment terms

The company’s most frequently used terms used during the reporting period were Net 30, Net 45, Net 60, and Net 80 days. Net Terms: Payment is processed by the weekly payment batch following 30/45/60 or 80 days (per terms) after the invoice date.

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

80 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

In the event of a dispute between a vendor and the company, the vendor can contact the accounts payable department including via an online tool accessible to vendors. The accounts payable department will work to address and resolve the issue. If the matter remains unresolved, it will be escalated to company management, with ultimate redress to applicable courts.

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