RENAULT U.K. LIMITED
Company number: 00082932
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
31 July 2018
Approved by:
el-hassan aitsaid
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 61%
- in 61 days or more: 19%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 19%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
All suppliers are paid 30 days end of month, it is the standard terms. rent is paid on a 2 weeks payment terms.
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
30 days
All suppliers under contact should follow the 30 days end of month terms
Any other information about payment terms
No further comment provided
Dispute resolution process
The budget holder who reject the invoice send a standard letter to the supplier in copy the chief accountant and legal manager.
Please see the letter below:
"Subject: Your invoice no. xxxxxxxx dated xx/xx/xxxx
We hereby inform you that we are unable to accept the invoice referred to above because ............... explanation of the problem -
Warning: if the goods supplied do not meet your expectations, do not forget to make it clear to the supplier that he should come to collect these after making an appointment.
In the event of partial cancellation
We will therefore expect to receive a credit note from you for part of the invoiced amount. We will immediately forward this credit note to our Accounting Department for payment.
Our Accounting Department will then proceed to payment for the undisputed amount, payment term has fallen due.
In the event of full cancellation
We expect to receive a credit note from you for the full invoice amount.
In the meantime, we reserve all our legal rights and remedies."
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