GLAXOSMITHKLINE UK LIMITED

Qualifying contracts for this entity contain a number of different payment periods:
• Immediate
• 30 days
• 60 days
• 45 days
• 30 days and 5th of the following month
• 60 days and 5th of the following month
Payments are made from date of receipt of invoice.

1) Statistics Reported:
Intercompany invoices and performance have been excluded from reported statistics as these are generally wholly owned group companies and would distort performance if included.
2) Payment terms for SMEs and 'Paid on Time' monitoring:
Preferential payment terms of 30 days are put in place for vendors that are confirmed as SMEs (Small and Medium Enterprises).
We closely monitor our KPIs on a weekly basis to ensure that vendors (including SMEs) are paid on
time. Corrective actions are taken to remedy any late payment issues where these are within the entity’s control.
3) Prompt Payment Code
GSK relies on our suppliers to enable us to do business, and we want our suppliers to know they can rely on us, too. To achieve this, we believe it is important for GSK to pay suppliers on time and according to agreed terms. GSK is committed to treating our suppliers fairly and is a signatory to the Prompt Payment Code.
GSK’s approach to payment practices also recognises the pressures faced particularly by small business and SMEs, and so we offer preferential 30-day payment terms for suppliers confirmed as SMEs. We will continue to seek to improve our payment performance for all suppliers in line with the Prompt Payment Code and will consider how we can best achieve this, in due course.

We offer our suppliers the following support and service:
• Enquiries and complaints can be logged through our Helpdesk support system (mail or telephone). Issues are often related to incorrect invoice submission, payment terms are not as per contract, PO details are wrong / nonexistent etc. Key performance metrics are monitored
for quality of Helpdesk support.
• Our Supplier web pages also include details and a link to our Speak Up channels that enable
concerns to be raised, including channels managed independently of GSK and the option to do so anonymously, although naturally it helps in resolving matters if we know as much as
possible about the issue and complainant.
• We have invested in Customer Relationship Management (CRM) to ensure effective and independent supplier follow up and support to our suppliers raising issues.