| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2018 - 30 Jun 2018 | 12 Nov 2018 | 57 | 31% | 37% | 32% | 95% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We request End of Month plus 60 days (listed in longest terms above as 90 days as EOM not an option). We get these terms for around 17% of our suppliers. Our next preference is EOM +30 days. Depending on the nature of business in the year e.g. if we have large capital projects for which often proforma or staged payments are required, then our mix of terms varies greatly.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
We request our suppliers quote our purchase order on every invoice and will return an invoice if this request is not adhered too. We have an electronic system in place for querying an invoice not matching a PO which chases up the buyer for approval of price override. If not approved then the supplier receives an email that they have over charged.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Sonoco Limited is a UK-registered entity, first incorporated in 1904, whose classified business activity is the manufacture of paper and paperboard. Its registered office is given care of Sonoco Cores & Paper Ltd at Stainland Board Mills, Halifax, a paperboard manufacturing site. The entity forms part of the wider Sonoco group, a global packaging company founded in 1899 in the United States, which manufactures metal, fibre, paper and plastic packaging products such as tubes, cores, cans, cartridges and rigid paper containers for consumer and industrial markets worldwide. The UK entity's own role relates to the group's paperboard manufacturing operations rather than the group's broader international packaging activities.
Generated from the company's website and Companies House records. Sources: sonoco.com · sonoco.com