HONDA OF THE U.K. MANUFACTURING LIMITED
Company number: 01887872
Reporting period:
1 October 2019
to 31 March 2020
This report was filed on 24 April 2020
and approved by J Nishimoto
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 80%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 4 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Last Working Day of the month following the date of the invoice
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
For suppliers of component parts (used in vehicle manufacture) the first point of contact will be via the Procurement and Logistics Control Group (PLCG) section of the Procurement and Logistics division. Phone number 01793 837652. The PLCG team will then manage this query and liaise with the supplier and the relevant buyer to resolve the dispute
For suppliers of goods and services other than component parts the first point of contact is the Accounts Payable (AP) team within the Finance department. Phone number 01793 834560, email hum.accounts.payable@honda-eu.com. If the AP team are not able to resolve the issue the supplier will be directed to our Shared Service Centre for price related queries, or the person who requested the goods or services for any delivery or quality related issues.
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