ELECTRIUM SALES LIMITED

"The payment terms are assigned by the Business units on a case by case basis:- Payment terms usage : -
60 days 59%, 30 days 12%, 90 days 7%, 7 days 1% and others less than 1%.
Intercompany cut-off paid immediately in the month after the month of reciept of invoice 20% .
Please note Intercompany clearing terms are available to Siemens companies only and payment method for such terms results in clearing of such transactions without any transmission of money external to Siemens cash pool.

The payment statistics excluding the ICC transactions are as follows :-
Average time it took to pay an invoice 57 days. Split of payments 0-30 days 16%, 31-60 days 25%, 61+days 59%. Invoices paid late 18%."

Early settlement discounts are applied as agreed with the suppliers and range from 1% to 3% based upon the timing of payments. During the reporting less than 1% of the overall transactions showed pre-agreed discounts with the suppliers.

"1) Central Accounts Payable (AP) team for payment enquiries, contact points via phone/e-mail/supplier portal. Relevant details are on Purchase Orders. A) Tel: 0845 602 6873 b) E-mail apsupport-gbandi.in@siemens.com
2) AP liaise with supplier to obtain and process missing invoices
a) Check existing systems (scan provider/e-invoice provider/invoice process queue to see if invoice already in query and/or returned to suppler)
3) AP liaise with suppliers to confirm payment details (past and upcoming)
4) AP liaise with approvers to release overdue invoices for payment
5) Special team deals with ‘final demand’ cases and legal notices"