MITSUI & CO. EUROPE PLC

Company number: 02204039

Reporting period:
1 April 2019 to 30 September 2019

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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

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

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?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

31 days

No further comment provided

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, this business has not signed up to a code of conduct or standards on payment practices.

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