WILLIS LIMITED

The Company’s standard contractual payment terms for all qualifying contracts are payments within 45 days after the date of invoice. Other payment terms may apply. Agreed payment terms are reflected in our contractual documentation and accounting system.
Of the 47% of invoices due but not paid within agreed terms, all were external to the Willis Towers Watson group.
The average time to pay invoices, excluding any intra-group invoice settlements, was 52 days.

Payments only fall due in our accounting system once terms are exceeded. The overdue statistics include a large proportion of invoices that were settled within a few working days of the due date. The average time taken to settle invoices in the period was adversely impacted by a very small number of invoices settled in relation to long-overdue.

Payment processing is managed by the Accounts Payable function and any supplier queries are actioned by that team. In the event they are unable to resolve the matter, the query will be discussed between the supplier and relevant colleague to ensure satisfactory resolution for both the supplier and the Company.