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ASAHI UK LTD

Company number: 11778384

Reporting period:
1 July 2022 to 31 December 2022

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

This report was filed on 27 January 2023

and approved by Mike James

Payment statistics

Average time taken to pay invoices: 57 days

Invoices paid:

• within 30 days: 13%
• in 31 to 60 days: 58%
• in 61 days or more: 29%

Invoices due but not paid within agreed terms: 35 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

90 days

Standard payment terms

Our standard Group payment terms are 90 days from receipt of correct invoice, and invoices are paid weekly where due, past due or where due within 7 days of the payment run. Contracts with up to 180 day terms are limited to large strategic supply partners who can benefit from Asahi’s supply chain finance, at competitive interest rates.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

180 days

Any other information about payment terms

A preferential Supplier Financing facility is available to our suppliers. This arrangement enables payment to suppliers earlier than standard or contracted payment terms.

Dispute resolution process

Supplier payment issues that arise in the first instance are addressed by the shared financial services team.
Depending on the issue, Procurement, Finance or Supply Chain may be involved to resolve any disputes or issues.

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.

Yes

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