HITACHI CONSTRUCTION MACHINERY (UK) LIMITED
Company number: 01082975
Reporting period:
15 September 2021 to 31 March 2022
Report filed on:
20 January 2023
Approved by:
Andrew Shield
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 31%
- in 61 days or more: 15%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 55%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
30 days from date of invoice (Net) is our most standard payment terms,
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
Companies where we have high value frequent purchases are the suppliers that give us 60 days terms.
Any other information about payment terms
None
Dispute resolution process
Correspondence is received via the purchase ledger team via email or letter. This is then looked into in a timely manner which is usually 48 hours. Notification is then sent to the supplier followed by payment. Any escalations are sent to the Accounts manager where they are resolved within 24 hours.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No