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SHARP ELECTRONICS (EUROPE) LIMITED

Company number: 08060689

Reporting period:
1 October 2020 to 31 March 2021


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

This report was filed on 28 April 2021

and approved by Seitaro Nomura

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

  • within 30 days: 64%
  • in 31 to 60 days: 35%
  • in 61 days or more: 1%

Invoices due but not paid within agreed terms: 2%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

Firm policy is to pay suppliers where not stipulated on the invoice within 30 days. Minor delays may occur if the invoice is received shortly after the weekly payment run. Disputed amounts may also result in processing delays.

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

60 days

No further comment provided

Any other information about payment terms

Payments to group companies are made monthly on 25th of each month. Invoices dated up to 31st with one month settlement terms are included for payment on 25th of the following month.

Dispute resolution process

Complaints or concerns should be raised in the first instance with the Accounts Payable team, for which all suppliers are advised the contact details. The Accounts Payable team will resolve or escalate across the business, as applicable.

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