BETA This is a new service – your feedback will help us to improve it.

HYUNDAI MOTOR UK LIMITED

Company number: 05446560

Reporting period:
1 January 2018 to 30 June 2018

---

This information is as reported by the business, and responses are in their own words.

This report was filed on 26 July 2018

and approved by Ray Pope

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

• within 30 days: 72%
• in 31 to 60 days: 21%
• in 61 days or more: 7%

Invoices due but not paid within agreed terms: 52 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

30 days

Standard payment terms

If we do not have specific payment terms with a supplier we will give them 30 day terms. For certain suppliers with short payment terms we may choose to give them zero payment terms so that our system will pick their invoices up as early as possible for payment.

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

It is impossible to pay suppliers with zero payment terms on time, so where we are showing 52% not paid within terms, if you exclude suppliers with zero payment terms it drops to 30%.

Dispute resolution process

Suppliers with a query or dispute can either telephone or email our dedicated accounts payables team. They are the first point of contact. If a dispute requires escalating to the relevant department, this will be done by our AP 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.

Yes – Prompt ayment 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