GOV.UK
ASAHI UK LTD
Company number: 05320470
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 31 July 2019
and approved by ROHAN CUMMINGS
Payment statistics
Average time taken to pay invoices: 71 days
Invoices paid:
- within 30 days: 5%
- in 31 to 60 days: 50%
- in 61 days or more: 45%
Invoices due but not paid within agreed terms: 97 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
Standard contractual terms for payment are 90 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
180 days
Our standard payment terms are 90 days from receipt of correct invoice and invoices due or past due, will be paid in the weekly payment run.
Contracts with up to 180 day terms are limited to large strategic supply partners who can benefit from supply chain finance.
Any other information about payment terms
In this reporting period, Asahi UK has changed payment run processing from fortnightly (which included any invoices with a due date up to 7 days in the future, with a number of payments therefore being in advance), to weekly payment runs including invoices due up to the date of payment run. The result of this is that Asahi UK pays suppliers more frequently, but this increases the number of invoices paid on (or very shortly after) due date.
A preferential Supplier Financing facility is available to our suppliers. This arrangement enables payment to suppliers earlier than standard or contracted payment terms.
Dispute resolution process
Supplier payment issues that arise in the first instance are addressed by the Financial Shared Services team. Depending on the issue, Procurement or Supply Chain may be involved to resolve any disputes or issues.
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.
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