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CATERPILLAR FINANCIAL SERVICES (UK) LIMITED

Company number: 02538373

Reporting period:
1 January 2019 to 30 June 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 31 July 2019

and approved by Clive Heath

Payment statistics

Average time taken to pay invoices: 10 days

Invoices paid:

• within 30 days: 96%
• in 31 to 60 days: 3%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 4 %

Payment terms

Standard payment period for qualifying contracts

1 days

Standard payment terms

Payment terms vary by contract and generally range from 7 days to 30 days.

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Complaints or concerns would be raised by either the Accounts Payable team or the approving manager within the department with responsibility for the qualifying contract relationship, usually within one working day of receipt. If required, further information would be requested from the contractual counterparty to enable the complaint or concern to be investigated fully and resolved. Depending on the circumstances, the invoice would then be paid, or a credit note requested, or an amended invoice may be requested if the original was defective. Resolution of the complaint or concern may be dependent on responses from the
contractual counterparty but would typically be within 7 to 14 days.

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