| 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 2025 - 30 Jun 2025 | 25 Jul 2025 | 68 | 43% | 39% | 18% | 33% |
| 01 Jul 2024 - 31 Dec 2024 | 03 Feb 2025 | 70 | 39% | 41% | 20% | 33% |
| 01 Jan 2024 - 30 Jun 2024 | 29 Jul 2024 | 87 | 26% | 46% | 28% | 53% |
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 82 | 23% | 40% | 37% | 64% |
| 01 Jan 2023 - 30 Jun 2023 | 06 Sept 2023 | 70 | 28% | 42% | 30% | 64% |
| 01 Jul 2022 - 31 Dec 2022 | 25 Jan 2023 | 64 | 27% | 47% | 26% | 60% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 84 | 39% | 40% | 21% | 47% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 68 | 39% | 39% | 22% | 50% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 55 | 45% | 31% | 24% | 56% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 107 | 34% | 36% | 29% | 60% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 57 | 33% | 44% | 23% | 69% |
| 30 Jun 2018 - 28 Dec 2018 | 25 Jan 2019 | 67 | 27% | 43% | 30% | 75% |
| 03 Jan 2018 - 29 Jun 2018 | 25 Jul 2018 | 69 | 33% | 37% | 30% | 70% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms with 3rd party suppliers are 90 days unless otherwise agreed with the relevant 3rd party supplier. The payment period commences from receipt of a proper, due and compliant invoice. Our standard hotel framework agreements (typically used for large hotel chains where we hold employee and client events) additionally provides for: (i) the supplier to deliver a draft invoice which we have 15 days to dispute, (ii) once we sign off on the draft invoice, the supplier may submit a final invoice, and (ii) we have 90 days from receipt to pay the final invoice, unless otherwise agreed. With respect to intra-EY network contracts, we may provide various services to other firms within the wider EY network (“EY Firm(s)”) and EY Firm(s) may provide various services to us. Standard payment terms with respect to such contracts are 60 days after invoice receipt. Any undisputed amounts owed to EY Firm(s) may be set off against amounts owed by EY Firm(s) to us.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
"As required, our statistics include figures for payments to external “3rd party” suppliers and payments made under intra-EY network contracts to other firms within the wider EY network (“EY Firm(s)”). Accordingly our statistics are not a fair and accurate reflection of our figures so far as they relate to our 3rd party suppliers. If only payments to external 3rd party suppliers are considered then our average time to pay is reduced to 45 days and 88% of invoices paid in the reporting period are settled within 60 days of receipt. If we were to report solely on our payments to our external 3rd party suppliers, our statistics would be as follows: Average Time to pay in days Percentage of invoices paid in 0 - 30 days - 38% Percentage of invoices paid in 31 - 60 days -50% Percentage of invoices paid on or after 61 days - 12% % Payments due in the reporting period not paid within the agreed period - 18% "
Maximum contractual payment period agreed
90
"With respect to contracts with 3rd party suppliers (as opposed to contracts with other members of the EY network), if EY disputes an invoice in good faith, we first notify the relevant third-party supplier of the amount in dispute and the nature of the dispute and may withhold payment of the disputed amount until the dispute is resolved in full. The general position relating to the dispute resolution process is that the appointed service managers (and, if applicable, senior service managers) for each party first attempt to resolve the dispute. If the service managers cannot resolve the dispute and both parties agree the dispute may be referred to mediation. If either party does not agree with the dispute being resolved by mediation then disputes are referred to arbitration. The exceptions to this process are: (i) standard agreements for the purchase of physical hardware and agreements for the purchase of original equipment from manufacturers, which agreements do not include the mediation step and (ii) standard purchase orders which purchase orders do not include the service manager resolution or the mediation steps. With respect to intra-EY network contracts, disputes are first referred to mediation by the global executive of Ernst & Young Global Limited. If the global executive fails to negotiate a mutual settlement, disputes are finally settled by arbitration."
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
EY Global Services Limited is a multinational professional services firm that offers a wide range of services including audit, tax, advisory and transaction advisory services. The company is headquartered in London, United Kingdom and has operations in more than 150 countries around the world.
EY Global Services Limited is committed to promoting sustainability and has a dedicated sustainability program in place. This program focuses on reducing the company's environmental impact, promoting diversity and inclusion, and creating a positive social impact in the communities where it operates.
The company offers a wide range of products and services to its clients, including financial auditing, tax planning and compliance, risk management, and business consulting. It also provides specialized services in areas such as cybersecurity, digital transformation, and sustainability consulting.
The key people at EY Global Services Limited include the CEO, Carmine Di Sibio, and the Chairman, Mark Weinberger. They lead a team of over 300,000 employees worldwide, who are committed to delivering high-quality services to clients and driving the company's growth.
For more information about EY Global Services Limited and its services, visit their website at www.ey.com. The company's registered office address is 1 More London Place, London SE1 2AF, United Kingdom.