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NISSAN TRADING EUROPE LIMITED

Company number: 02461565

Reporting period:
1 October 2018 to 31 March 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 16 April 2019

and approved by Kenichi Kitao

Payment statistics

Average time taken to pay invoices: 34 days

Invoices paid:

• within 30 days: 11%
• in 31 to 60 days: 48%
• in 61 days or more: 41%

Invoices due but not paid within agreed terms: 1 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

120 days

Standard payment terms

Our usual payment terms are end of month + 1 month (most purchases are by sea from Asia). Intercompany payment terms with head office differ based on business type (Auto parts 60 days, Machinery/ Materials 120 days). This is dictated by Nissan Trading Japan policy.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

120 days

Intercompany payment terms with head office differ based on business type (Auto parts 60 days, Machinery/ Materials 120 days). This is dictated by Nissan Trading Japan policy.

Any other information about payment terms

Payment terms can differ per product / project depending on supplier, incoterms etc.

Dispute resolution process

Any invoice query we have would be dealt with by our sales department (and escalated to management if needed) in order to solve the query. Queries would usually be raised within 1 month of the issue been identified. Depending on the issue we would aim to resolve the dispute within 1-2 weeks.

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