SIEMENS FINANCIAL SERVICES LIMITED

Standard payment terms

Payment terms are assigned by the Business units on a case by case basis. Payment terms usage is as follows , 70% were Intercompany invoices which get cleared in the next month due net. 3rd party payment terms usage as follows :- due within 30 days 22%, payable immediately 8% Please note Intercompany clearing terms are available to Siemens companies only and are cleared via cash pooling without transmission of money. > KPI's excluding ICC clearing transactions ( i.e. Payments with money transmission only ) are stated as follows : Average days to pay : 21 days ,Payment timing : 0-30 days 92% ,31-60 days 8%, Late invoices : 39%

Were there any changes to the standard payment terms in the reporting period?

No information available

Any other information about payment terms

During the period changes were made to payment terms for specific suppliers after consultation with suppliers.

Maximum contractual payment period agreed

30

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.

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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.

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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.

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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?

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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available