CAPITAL ONE (EUROPE) PLC
Company number: 03879023
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
21 July 2022
Approved by:
James Aron
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 91%
- in 31 to 60 days: 8%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 8%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
The standard payment term for the period to 30th June 2022 was payment within 30 days after the last day of the month of receipt by Capital One of an undisputed invoice. Receipt of an undisputed invoice is defined as an invoice submitted through the correct Capital One channels with a valid purchase order number. Shorter, non-standard payment terms, may be negotiated with individual suppliers as part of their contract negotiations.
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
N/A
Any other information about payment terms
If a supplier does not already have an existing Early Payment Discount and submits invoices via Capital One's online invoice portal (Coupa Supplier Portal), they will have the opportunity to take advantage of the Accelerate program, whereby suppliers can have their PO backed invoices paid faster by offering an invoice discount.
Dispute resolution process
Capital One Supplier managers will work with suppliers to resolve payment disputes. Where possible, Capital One will aim to resolve disputes by the supplier making an adjustment on a future invoice, or providing a credit note, so that the original invoice may be paid on time. If this is not possible, the invoice under dispute, will be rejected back to the supplier and no payment is issued. Once the dispute is resolved, the invoice will be resubmitted for payment in line with payment terms.
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.
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