GOV.UK
DB CARGO (UK) LIMITED
Company number: 02938988
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 30 July 2019
and approved by Andrea Rossi
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 59%
- in 61 days or more: 18%
Invoices due but not paid within agreed terms: 29 %
Payment terms
Shortest standard payment period
37 days
Longest standard payment period
66 days
Standard payment terms
The company follows a policy whereby supplier payment terms are agreed prior to entering into any contracts or transactions. These payment terms are upheld based on the timely and accurate submission of invoices. The standard payment terms are the end of the month following the month of the date of invoice, plus 7 calendar days (i.e. 37 days end of month).
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
66 days
Any other information about payment terms
The majority of suppliers are on our standard payment terms. However, there are instances where different payment terms are agreed with suppliers.
The number of invoices paid outside of the agreed payment terms of 29% is calculated based on the invoice date, in line with our standard payment terms. Where invoices are not received in a timely fashion this can result in payment outside of the standard payment terms. Late receipt of invoices contributed 4% to the number of invoices paid outside of agreed terms in the period. The remaining 25% of these invoices will include invoices which have been through a dispute resolution process. Where accurate invoices are received in a timely fashion we endeavour to pay within the agreed terms.
Dispute resolution process
The company has robust processes and controls in place that must be followed. The aim is to deal with suppliers in a fair and consistent manner, with the objective of making timely payments. When disputes arise, the company aims to resolve these with speed and efficiency so that both parties can come to a resolution and payment be made accordingly.
Disputes are resolved by the procurement department or the relevant contract manager within the business. Request for credits or back up documentation is requested at source. Accounts Payable will follow up with procurement/contract managers to push for a speedy resolution. Once resolved the disputed items and credits are put on to the first available payment run.
If a dispute cannot be resolved following the above process this would then be escalated to the Head of Finance who would seek a resolution.
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