GAC Group

Since its establishment in 1997, GAC Group has adhered to the ironclad rule of "paying suppliers within 60 days" for 28 years. This commitment has set a benchmark for standardizing payment processes in the automotive industry and fostering a collaborative "vehicle-parts" ecosystem of mutual benefit.

From day one, GAC Group has maintained supplier payment terms of "no more than 60 days" to ensure a healthy supply chain. To uphold this promise, the company built a comprehensive control system covering the entire workflow—from "order placement, inspection and warehousing, reconciliation, to payment"—while implementing full-process digital management to ensure compliance through both institutional and technological safeguards.

GAC Group also achieves end-to-end transparency via digital systems. All operational nodes—demand forecasting, order placement, and inventory acceptance—are integrated into its digital platform for visualized oversight. Both suppliers and GAC can track real-time progress, with payment deadlines triggered upon goods warehousing (which doubles as acceptance clearance), eliminating ambiguous timelines. If a supplier delays invoicing, the system auto-alerts, followed by manual reminders from purchasers.

Cash transfers are a "hallmark tradition" at GAC. Since inception, cash has remained its primary settlement method. Although bank acceptance drafts (with GAC-covered interest) were introduced in 2023, they account for just ~5% of transactions to date.

The value of these terms extends beyond payments. Many suppliers have evolved from transactional "pay-and-deliver" partners to strategic allies in "joint R&D and market expansion" with GAC.

Through 28 years of steadfast adherence, GAC’s "60-day terms" have woven a bond of trust across the supply chain. Its cash payments (demonstrating sincerity), digital transparency, and flexible policies have transformed "OEM-supplier" dynamics into a risk-sharing, profit-sharing ecosystem.

Seres
To enforce its 60-day terms, Seres established an end-to-end execution system from contract signing to process optimization. Its standard supplier contracts universally mandate 60-day terms—no exceptions for new partners—setting a non-negotiable baseline from day one.

To prevent delays from cumbersome offline workflows, Seres adopted full digitalization. Suppliers access a dedicated platform for real-time updates on order acceptance, billing status, and payment timelines, ensuring traceable transparency throughout.