MERCEDES-BENZ FINANCIAL SERVICES UK LIMITED
Company number: 02472364
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
23 July 2018
Approved by:
Brian Evon
Payment statistics
Average time taken to pay invoices: 17 days
Invoices paid:
- within 30 days: 87%
- in 31 to 60 days: 9%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 19%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
End of month following invoice.
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
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
When an invoice is disputed, it is the responsibility of the business area concerned to contact the supplier and advise the invoice number and reason for rejection. Mercedes-Benz Financial Services are striving to employ a strictly no PO no pay policy. The PO number is communicated to the supplier by the business area at the time of placing the order.
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.
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