MITSUI & CO. EUROPE PLC
Company number: 02204039
Reporting period:
1 April 2019
to 30 September 2019
This report was filed on 24 October 2019
and approved by Makoto Tanaka
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 15%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 28 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Standard contractual payment terms for goods and services are 30 days. However, other payment terms are often individually agreed with suppliers. No specified payment terms are set for transactions with Companies in the same Mitsui Group. Company policy is to pay suppliers as per the due date stated on the invoice. Minor delays may occur if the invoice is received late.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
31 days
Any other information about payment terms
N/A
Dispute resolution process
Disputes are resolved through a process of involving the requestor of goods or services, the relevant department manager and the legal & compliance department.
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