GOV.UK
CAPITAL ONE (EUROPE) PLC
Company number: 03879023
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 28 January 2019
and approved by Richard Rolls
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 6%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 6 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
The standard payment term for the period to 31st December 2018 was payment within 30 days of the date of receipt of an undisputed invoice by Capital One .
Receipt of an undisputed invoice is defined as an invoice submitted through the correct Capital One channels with a valid purchase order number.
Shorter, non-standard payment terms, may be negotiated with individual suppliers as part of their contract negotiations.
Were there any changes to the standard payment terms in the reporting period?
Yes – The standard payment term was changed to payment within 30 days of receipt as of 1st July 2018. In previous reporting periods the standard term was payment within 30 days after the end of the month following receipt of an undisputed invoice by Capital One.
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Capital One Supplier managers will work with suppliers to resolve payment disputes. Where possible, Capital One will aim to resolve disputes by the supplier making an adjustment on a future invoice, or providing a credit note, so that the original invoice may be paid on time.
If this is not possible, the invoice under dispute, will be rejected back to the supplier and no payment is issued. Once the dispute is resolved, the invoice will be resubmitted for payment in line with payment terms.
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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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.
Yes
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