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TOYOTA FINANCIAL SERVICES (UK) PLC

Company number: 02299961

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 17 April 2019

and approved by Rupert Wentworth-Jessop

Payment statistics

Average time taken to pay invoices: 8 days

Invoices paid:

• within 30 days: 100%
• in 31 to 60 days: 0%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

The company aims to pay all invoices within 30 days of receipt.

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

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A, but please note that 99.7% of invoices were paid within our standard terms, which rounds to a whole number of 100% as required by this report. the 0.3% not paid within 30 days were paid within 33 days.

Dispute resolution process

Disputes or complaints should be escalated to our Purchase Ledger Supervisor, who will acknowledge within 7 working days, and then obtain the facts from the relevant department that ordered the good or service. We aim to resolve all disputes or complaints within 30 days from acknowledgement.

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