MCCORMICK (UK) LIMITED

Standard payment terms

McCormick UK Ltd has over 60 payment codes currently being used. Net 60 days is the most common (16% of all invoices in reporting period), followed by Net 90 days (14% of all invoices in reporting)

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

No information available

Any other information about payment terms

The average number of payment days does not consider the reduced payment term for our vendors under our supplier vendor financing which is on average 10 days.

Maximum contractual payment period agreed

180

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