ISUZU TRUCK (UK) LIMITED
Company number: 04953827
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
26 July 2021
Approved by:
PETE MURPHY
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 60%
- in 31 to 60 days: 28%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 37%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard terms is 30 days from receipt of a valid invoice and terms for vehicle chassis is 90 days. However, the credit terms with suppliers involved on
the works on chassis / vehicle bodies the credit terms follows the settlement of the vehicle to the end customer therefore the chain of credit may be
greater than 30 days in some cases. Intercompany invoices for chassis are settled under alternative arrangements (generally greater than 90 days) due
to nature of the companys' financing structure.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The best resolution approach is direct discussions with either the accounts team or the Vehicle Admin department. See our website for contact details
www.isuzutruck.co.uk
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.
Yes
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