Industry ranking
The trend for GRAPHIC PACKAGING INTERNATIONAL GATESHEAD LIMITED's average time to pay invoices has been decreasing over the past three periods, with a decrease of 6% between 2018-2019 and a further decrease of 2% between 2019-2020. However, there was a slight increase of 1% between 2020 and 2021.
There has been a moderate level of volatility in the percentage of invoices paid within 30 days, with the highest volatility being seen between 2018-2019 and the lowest between 2020-2021. The percentage of invoices paid between 31 and 60 days has also shown moderate volatility, with the highest volatility seen between 2018-2019 and the lowest between 2020-2021. The percentage of invoices paid later than 60 days has shown low volatility, with the highest volatility seen between 2018-2019 and the lowest between 2020-2021.
The average time for GRAPHIC PACKAGING INTERNATIONAL GATESHEAD LIMITED to pay invoices has decreased by 6% over the past three periods, with a decrease of 2% between the most recent two periods. There has been moderate volatility in the percentage of invoices paid within 30 days and between 31 and 60 days, but low volatility in the percentage of invoices paid later than 60 days. The percentage of invoices paid within 30 days has consistently been the highest, with an increase of 24% between 2018-2021. The percentage of invoices paid later than 60 days has consistently been the lowest, with a decrease of 13% between 2018-2021. The shortest (or only) standard payment period has remained consistent at 1 day throughout all periods.
| 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 Jun 2021 - 30 Jun 2021 | 14 Jul 2021 | 45 | 59% | 22% | 19% | 22% |
| 01 Jul 2020 - 31 Dec 2020 | 27 Jan 2021 | 44 | 52% | 27% | 21% | 38% |
| 01 Jan 2020 - 30 Jun 2020 | 13 Jul 2020 | 41 | 50% | 31% | 19% | 36% |
| 01 Jul 2019 - 31 Dec 2019 | 17 Jan 2020 | 45 | 44% | 32% | 24% | 45% |
| 01 Jan 2019 - 30 Jun 2019 | 15 Jul 2019 | 39 | 54% | 25% | 21% | 37% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 42 | 41% | 32% | 26% | 41% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 45 | 35% | 33% | 32% | 45% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
There are eight standard payment terms commonly used; 21 days invoice date of invoice less 3% discount; 35 days invoice date of invoice less 3% discount; 30 days end of month; 56 days date of invoice; 60 days end of month; 90 days end of month; 95 days end of month; 120 days end of month for Graphic Packaging International intercompany suppliers only.
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
120
In the event of a dispute between Graphic Packaging International and the supplier a complaint can be raised directly with the accounts payable department. This department will send the complaint to the invoice approver within Graphic Packaging International for follow up with the supplier. The Graphic Packaging International invoice approver and supplier must reach an agreement within a reasonable period of time on how to resolve the query. This definition of a reasonable period of time will be defined by all the parties involved.
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
Graphic Packaging International Gateshead Limited is a UK registered manufacturer classified under the making of other paper and paperboard containers. It was previously named Integrated Packaging Limited until June 2015, when it took its current name reflecting its position within the Graphic Packaging International corporate group, whose senior officers are based in Atlanta, USA. The company itself operates as a UK manufacturing entity within that wider group rather than as an independent trading brand. It was incorporated in 1977 and remains active, with its registered office administered by a corporate secretarial provider in London. No further detail on specific product lines, customers or trading operations is available from the evidence supplied.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk