The average time taken for DOW CHEMICAL SERVICES UK LIMITED to pay invoices to suppliers has fluctuated over the past three periods, with a decrease in 2019 followed by an increase in 2020 and then a slight decrease in 2021. The company has consistently paid invoices within 60 days, with a peak of 56% in 2020. However, there has been a steady decrease in the percentage of invoices paid within 30 days since 2018.
The volatility of DOW CHEMICAL SERVICES UK LIMITED's payment process has been relatively low, with the average time to pay invoices remaining between 40-50 days and the percentage of invoices paid within 30 days fluctuating between 14-41% over the past three periods.
From 2018 to 2021, DOW CHEMICAL SERVICES UK LIMITED's average time to pay invoices has ranged from 35 to 52 days, with a slight decrease in 2021 compared to the previous two periods. However, the percentage of invoices paid within 30 days has decreased significantly from 41% in 2018 to only 20% in 2021. This trend suggests that the company may be taking longer to pay invoices, which could potentially affect their relationships with suppliers.
| 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 Jul 2024 - 31 Dec 2024 | 17 Feb 2025 | 47 | 37% | 22% | 41% | 8% |
| 01 Jan 2024 - 30 Jun 2024 | 24 Jul 2024 | 51 | 30% | 29% | 41% | 8% |
| 01 Jul 2023 - 31 Dec 2023 | 02 Feb 2024 | 51 | 24% | 26% | 50% | 8% |
| 01 Jan 2023 - 30 Jun 2023 | 19 Jul 2023 | 50 | 25% | 20% | 55% | 5% |
| 01 Jul 2022 - 31 Dec 2022 | 01 Feb 2023 | 54 | 28% | 29% | 43% | 11% |
| 01 Jan 2022 - 30 Jun 2022 | 22 Jul 2022 | 47 | 23% | 33% | 44% | 6% |
| 01 Jul 2021 - 31 Dec 2021 | 02 Feb 2022 | 48 | 20% | 41% | 39% | 8% |
| 01 Jan 2021 - 30 Jun 2021 | 19 Aug 2021 | 48 | 21% | 36% | 43% | 20% |
| 01 Jul 2020 - 31 Dec 2020 | 09 Feb 2021 | 52 | 18% | 32% | 50% | 14% |
| 01 Jan 2020 - 30 Jun 2020 | 03 Aug 2020 | 69 | 14% | 30% | 56% | 26% |
| 01 Jul 2019 - 31 Dec 2019 | 04 Feb 2020 | 45 | 32% | 26% | 42% | 16% |
| 01 Jan 2019 - 30 Jun 2019 | 13 Aug 2019 | 42 | 38% | 31% | 31% | 38% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 86 | 30% | 25% | 45% | 55% |
| 01 Jan 2018 - 30 Jun 2018 | 19 Jul 2018 | 35 | 41% | 46% | 13% | 25% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
NET 60 40.56 % NET 30 19.58 % NET 45 14.69 %
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
60
A supplier invoice can be received either in paper or PDF format. The paper invoice will be barcoded and scanned, the PDF invoice will be uploaded into the ERP system. Invoices with a purchase order. A first pass attempt to post the invoice in the financial book of records will be executed, whereby the invoice amounts and quantities will be matched versus the purchase order. In case of discrepancies, an internal follow up will be performed with the purchase requisitioner or goods receiver for the quantity part and/or with the buyer for unit price deviations. If the discrepancy cannot be solved and are rejected by the internal partners, the invoice will be rejected and sent back to supplier with the request to issue a corrective invoice or (partial) credit note. If the discrepancy has been reviewed and proper follow up is provided to solve it, the invoice will be posted. This financial posting may be subject to an additional internal audit which will block the entry. Once the audit is performed, the block will be released and the invoice is ready for payment. Invoice without a purchase order. The invoice should at least indicate a reference or a contact person which should enable the request to review the invoice on correctness. If no reference is available, the invoice will rejected and sent back to the supplier with request to provide proper reference or contact details. If a reference or contact is available, an internal follow up will be performed to have the invoice reviewed on correctness and to acquire authorization for payment. Based on the authorization, the invoice will be posted. If no authorization can be obtained, the invoice will be rejected and sent back to supplier with the request to issue a corrective invoice or (partial) credit note. This financial posting may be subject to an additional internal audit which will block the entry. Once the audit is performed, the block will be released and the invoice is ready for payment. The payment due date of the invoice is calculated based on the agreed upon payment terms. Once the due date is reached, the invoice will be selected for payment.
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
Dow Chemical Services UK Limited is a UK-registered company incorporated in 2010, based in Cheadle. It forms part of the Dow group of companies, with several directors and officers connected to other Dow entities such as Dow Corning Limited and Dow Silicones UK Limited. Its registered activity at Companies House is classified as human resources provision and management of human resources functions, indicating a role providing HR-related administrative support within the wider Dow corporate structure rather than manufacturing or selling chemical products itself. The company remains active, with accounts filed up to December 2024 and regular confirmation statements submitted. No further detail on specific services performed 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 · find-and-update.company-information.service.gov.uk