PROMPT PAYMENT CODE: ACTION PLAN
Organisation: Unipart Group Limited
Company Registration number: 00576777
Unipart Group Limited is committed to paying all suppliers in accordance with the mutually-agreed terms.
We have a statutory duty to report payment practices and performance on a six-monthly basis, as prescribed by the Department for Business, Energy & Industrial Strategy reporting guidance. This information is published here: https://check-payment-practices.service.gov.uk/company/00576777/reports
Unipart monitors payment statistics, and as part of our commitment to continuously improve our payment performance our finance teams are working with the business to understand where issues occur and working at ways to remedy these.
The main reasons why our payments to our suppliers are longer than they could be are as follows:
- Supplier invoices – the invoices are incorrectly addressed, are not received in a timely manner, or do not include the information we require to process payment
- Unresolved disputes or queries, eg price, quantity, or quality discrepancies
The actions we are taking to address these identified areas of improvement are:
- We will improve proactive communications with the suppliers to ensure all information is included that is required to pay an invoice. This is also published on our website and made available to all new suppliers. We will also ensure any invoice queries are raised with the supplier promptly to ensure payment is made within the agreed time
- We have implemented regular reporting to senior management on payment performance so unresolved issues are escalated and appropriate action taken to resolve and help ensure payment is made within the agreed time. Progress on our Prompt Payment Code Action Plan is reported to our company finance director.
The above is a summary of the Action Plan that has been approved by our Finance leadership and signed off by our company finance director, and is published as per the requirements of the Cabinet Office’s Procurement Policy Note (PPN) 10/23.