Mars criticized for using SCF schemes to delay payment terms

Thursday 22 May 2014 00:59 CET | News

Manufacturer of chocolate bars Mars UK has introduced a variation of a supply chain finance scheme as a way for extending payment terms to suppliers, according to the Forum of Private Business (FPB), a business support organization.

With this supply chain finance scheme in place, Mars has extended its payment time from 60 to 120 days. Suppliers are being offered the option of being paid a reduced amount within 10 days.

Some of the companies most recently added to the late payment list made by FPB include Debenhams, GlaxoSmithKline, Premier Foods and Monsoon Accessorize, because they have used variations of supply chain finance schemes in order to delay payment to suppliers.

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Keywords: Mars, SCF, schemes, payment, terms, Forum of Private Business, FPB, supply chain finance, suppliers
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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