MARUBENI EUROPE PLC

Company number: 01885084

Reporting period:
1 October 2019 to 31 March 2020

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This report was filed on 7 May 2020

and approved by Shuichi Kamizono

Payment statistics

Average time taken to pay invoices: 37 days

Invoices paid:

• within 30 days: 73%
• in 31 to 60 days: 13%
• in 61 days or more: 14%

Invoices due but not paid within agreed terms: 8%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

360 days

Standard payment terms

Due to nature of trading in wide range of commodities, Marubeni does not apply standard payment terms across all contracts but instead pays according to terms agreed with each supplier. If terms not stated, Marubeni generally pays within 30 days of invoice date.

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

360 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Disputes and queries are initially reported to the relevant contact in the commercial teams. If required, unresolved issues can be referred to the accounting and/or legal team.

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