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HPI UK HOLDING LTD.

Company number: 05598207

Reporting period:
1 July 2019 to 31 December 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 28 January 2020

and approved by Peter Voit

Payment statistics

Average time taken to pay invoices: 42 days

Invoices paid:

• within 30 days: 27%
• in 31 to 60 days: 63%
• in 61 days or more: 10%

Invoices due but not paid within agreed terms: 21 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

31 days

Standard payment terms

Our standard terms are 30 days from invoice date however these terms do vary on occasion based on the individual agreements with suppliers.

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

No

Maximum contractual payment period agreed

31 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Payment disputes are initially reported to Accounts Payable where a member of the team will investigate the dispute with the account relationship holder. When required the dispute will be escalated to the Purchasing Director, Department Head or Director of Finance. Once resolved the supplier will be paid in accordance with its payment terms or if the invoice is past due then on the next payment run.

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