HONDA LOGISTICS UK LIMITED
Company number: 02534528
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
30 October 2018
Approved by:
Nobuhiro Nakamura
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 29%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
We carry out two payment runs per month, usually on the 14th & 29th of the month. This ensures that as long as the invoice is correct then the supplier will receive payment within a maximum of 45 days.
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any complaint or dispute will initially be referred back to the person or manager of the department that raised the purchase order or entered into the contract. This will be investigated with the item under dispute being compared against the terms and conditions of any contract to establish if these have been breached. A resolution is expected to be agreed on between parties within 14 days, during this time the invoice or invoices in question will be put on hold and will not be included in any payment run made during this period. If resolution is not possible within 14 days it will be escalated to senior management for their involvement.
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