KOITO EUROPE LIMITED
Company number: 00945580
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 28 January 2019
and approved by Y Aoshima
Payment statistics
Average time taken to pay invoices: 61 days
Invoices paid:
- within 30 days: 11%
- in 31 to 60 days: 38%
- in 61 days or more: 51%
Invoices due but not paid within agreed terms: 20 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
60 days Nett end of Month following delivery unless otherwise agreed by the buyer
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
99 days
Any other information about payment terms
N/A
Dispute resolution process
Suppliers must submit monthly statements which allows us to check we have all invoices.
Any invoices received where no Purchase Order was raised OR {for Supplies - if no Goods received note generated} / {for Services - Invoices not authorised by managers} OR invoice price does not agree to Purchase Order are placed on hold until supplier can submit further documents, i.e. Order note, proof of delivery etc.
If the issue is related to quality of goods or services, this will be discussed by the manager who requested the goods/services and the Supplier.
If required this will be escalated up the management chain.
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.
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