CATERPILLAR (U.K.) LIMITED
Company number: 00484783
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
27 July 2018
Approved by:
Nigel Burroughs
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 27%
- in 31 to 60 days: 58%
- in 61 days or more: 15%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 22%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Caterpillar (U.K.) Limited's standard payment terms are Immediate (invoices paid on the next available payment run), Net Thirty (payments made within 30 days of invoice date), Net Monthly (invoices paid at the end of the following month) or Net Sixty (payments made within 60 days of invoice date). The majority of suppliers are on Net Thirty or Net Monthly payment terms, with a signed payment terms agreement in place for any supplier on sixty days. Immediate payment terms are in place for certain smaller suppliers and those with long lead times. Caterpillar Peterlee also has a payment term of Foreign 35 Days (payments made within 35 days of invoice date) to allow additional time for invoices to be received from foreign suppliers, equivalent to 30 day payment terms for domestic suppliers.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any invoices that are not paid within Caterpillar (U.K.) Limited's standard terms have either been received late or are in dispute. Overdue invoices or payment queries should be raised with the relevant Accounts Payable team (Desford or Peterlee) or the supplier can speak to their Caterpillar buyer. Accounts Payable will work with Global Purchasing to resolve price variances, Receiving/Goods In or Material Planning to resolve receipt grief, or the budget holder to resolve issues with goods received or the service performed. Invoices for Desford (Building Construction Products) should be sent to Caterpillar (U.K.) Limited, Peckleton Lane, Desford, Leicester, LE9 9JT or emailed in PDF format to BCP_UK_Accounts_Payable@cat.com. Invoices for Peterlee (Articulated Trucks) should be sent to Caterpillar (U.K.) Limited, North West Industrial Estate, Peterlee, County Durham, SR8 2HX or emailed in PDF format to accountspeterlee@cat.com.
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 Fair 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