ASSA ABLOY LIMITED

ASSA ABLOY operates with a standard set of payment terms and conditions under which invoices are paid within 60 days from the end of the month of the date on which the goods or services to which they relate have been deemed to have been delivered in accordance with the delivery terms of the contract.

We work closely with our suppliers to support the cash flow requirements of both ASSA ABLOY and our supply chain throughout the reporting period. Of the payments reported as paid outside of agreed payment terms, 72% of these were paid within 5 days of the agreed due date.

We work closely with our suppliers to ensure that any disputes are resolved on a timely basis. ASSA ABLOY Limited operates a shared service accounts payable team based in the West Midlands. If at any time a dispute arises in relation to the payment of an invoice, suppliers contact our shared service accounts payable team with details of the disputed payment together with their authorised purchase order number. The accounts payable team will use all reasonable endeavours to resolve the dispute, but will refer this to the relevant procurement department where issues cannot be resolved directly. Where disputes cannot be appropriately resolved within a reasonable time frame, ASSA ABLOY operates a policy whereby payment disputes are escalated to the senior executive team for resolution.