Disclosure Requirement G1-6 – Payment practices

31. The undertaking shall provide information on its payment practices, especially with respect to late payments to small and medium enterprises (SMEs).

32. The objective of this Disclosure Requirement is to provide insights on the contractual payment terms and on its performance with regard to payment, especially as to how these impact SMEs and specifically with respect to late payments to SMEs.

33. The disclosure under paragraph 31 shall include:

    • (a) the average time the undertaking takes to pay an invoice from the date when the contractual or statutory term of payment starts to be calculated, in number of days;

    • (b) a description of the undertaking’s standard payment terms in number of days by main category of suppliers and the percentage of its payments aligned with these standard terms;

    • (c) the number of legal proceedings currently outstanding for late payments; and

    • (d) complementary information necessary to provide sufficient context. If the undertaking has used representative sampling to calculate the information required under point - (a), it shall state that fact and briefly describe the methodology used.