HYUNDAI MOTOR UK LIMITED
Company number: 05446560
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 22 July 2020
and approved by Natalia Kang
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 30%
- in 61 days or more: 17%
Invoices due but not paid within agreed terms: 71 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Hyundai will use the suppliers standard payment terms where stated. Otherwise we will set the account to 30 days. Our network of franchised motor trade dealers have payment terms of 21 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Disputes and queries will be dealt with directly between the supplier and the person / department that ordered the goods or service.
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.Yes – Prompt Payment Code
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