KERRY FOODS LIMITED

Kerry has over 20 terms in use with suppliers, the most common being equivalent to 90 days from date of invoice. Shorter terms may be granted to small businesses, charities, business organisations and government entities. Negotiations with suppliers happen on a continuous basis and payment terms may change as a result of agreements reached.

Payment Terms are negotiated with each supplier and a wide range of terms are available for use. The terms used have been agreed to by suppliers and there is strong commitment to meet these terms.

Invoices are processed in a structured, rule based process. Invoices which do not contain key information will be returned to the vendor with an accompanying note. Invoices which are accepted and are submitted for processing may encounter a discrepancy. In the first instance, a designated receiver of goods or a designated buyer of the goods will receive an automated request to confirm the quantity received and/or the price on the Purchase Order. If it is determined that the invoice does not match the quantity received or the price agreed, Accounts Payable will hold the invoice while a Credit Note is requested. When the correct Credit Note is received, it is processed with the original invoice to enable payment. A supplier invoicing guide is made available to suppliers. In addition to invoicing instructions, this guide also provides addresses, telephone numbers and e-mail addresses which can be used to resolve a dispute.