GOV.UK
KNORR-BREMSE SYSTEMS FOR COMMERCIAL VEHICLES LIMITED
Company number: 00529247
Reporting period:
1 January 2018
to 30 June 2018
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 30 July 2018
and approved by Mark Smith
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 40%
- in 31 to 60 days: 42%
- in 61 days or more: 18%
Invoices due but not paid within agreed terms: 17 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
Our suppliers set the payment terms. The majority fall into 30 or 60 days. Industry standard.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
For intercompany suppliers (which is the bulk of our suppliers) there is an internal dispute and escalation process handled via our intercompany reconciliation system.
For 3rd party suppliers this is done on a case by case basis as we get such a small quantity from 3rd party suppliers. Internal escalation to senior managers is the usual route.
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
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