GOV.UK
HITACHI RAIL LIMITED
Company number: 05598549
Reporting period:
1 October 2018
to 31 March 2019
This report was filed on 25 April 2019
and approved by Antonio Coluccia
Payment statistics
Average time taken to pay invoices: 114 days
Invoices paid:
- within 30 days: 24%
- in 31 to 60 days: 30%
- in 61 days or more: 46%
Invoices due but not paid within agreed terms: 28 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
360 days
Standard payment terms
Payment terms are agreed with suppliers as part of the supplier selection process / contract negotiations. Hitachi Rail Limited takes into account circumstances of each supplier during this process, in particular for small to medium enterprises. Standard payment terms are 60 days from the date of receipt of Goods and or completion of Services relating to that specific Purchase Order.
Payment runs are made on a weekly basis and invoices received without a valid Purchase Order number are returned to the supplier which may result in a delay in the payment process.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
360 days
The maximum contractual payment term of 360 days relates to suppliers which have agreed to have access to supply chain finance. These are agreed on a case by case basis with specific suppliers predominantly on our long-term manufacturing contracts.
Average number of days for making payment, excluding Supply Chain Finance: 56 days
Any other information about payment terms
N/A
Dispute resolution process
Hitachi Rail Limited advises suppliers to liaise with their normal point of contact stated on the Purchase Order, who will help them in the first instance or direct them to the relevant persons.
All payment specific enquiries can be made to the Accounts Payable team via telephone on 0800-014-9497 or e-mail AP.queries@hitachirail.com.
In the event of a dispute where an agreement cannot be made, Hitachi Rail Limited follows an established escalation process with Finance / Procurement leads who work to resolve any outstanding dispute.
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.
Yes
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