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KAWASAKI PRECISION MACHINERY (UK) LIMITED

Company number: 02833215

Reporting period:
1 January 2018 to 30 June 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 12 July 2018

and approved by Lee Crocker

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

• within 30 days: 37%
• in 31 to 60 days: 34%
• in 61 days or more: 29%

Invoices due but not paid within agreed terms: 26 %

Payment terms

Shortest standard payment period

1 days

Longest standard payment period

90 days

Standard payment terms

Payment terms are agreed with preferred suppliers based on the nature of their business and their size. A number of standard payment terms are offered. The most commonly used are 'End of month +30 days' and 'End of month +60 days'.

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

No

Maximum contractual payment period agreed

180 days

The maximum contract length is with the parent company which is the business' main supplier by value into the business.

Any other information about payment terms

The business provides a schedule of payment dates each year in advance to preferred suppliers so that suppliers can manage their cash flow expectations.

Dispute resolution process

Low level queries and complaints are managed by the accounts payable clerk, eg missing invoices and late payments. Any disputes relating to supply quality where there is a query so invoices are not cleared for payment will be escalated to and managed by the purchasing 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.

Yes

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