Company number: 07443319
and approved by Paul Grover
Average time taken to pay invoices: 38 days
Invoices paid:
Invoices due but not paid within agreed terms: 8%
30 days
59 days
Kober Limited ('Kober')'s standard contractual payment terms state that Kober will pay each correct invoice on its next weekly payment run following 45 days after the later of receipt of goods and receipt of invoice (for goods for resale suppliers), on its next weekly payment run following 30 days after receipt of invoice (for goods not for resale suppliers) or 30 days (cash in bank) after receipt of invoice for small suppliers. In certain specific circumstances, Kober may agree to shorter and longer payment terms with some suppliers as part of an overall commercial agreement.
During the reporting period Kober changed its standard payment terms for its goods for resale suppliers from the next weekly payment run following 30 days after the date of invoice to the next weekly payment run following 45 days after the later of receipt of the goods and receipt of a valid invoice. Relevant suppliers remained on their current payment terms until expiry of their contracts with any change in payment terms being discussed with them in advance of entering into a new contract. A minor change was also made to Kober’s standard payment terms for all other suppliers to provide that the payment terms run from the date of receipt of invoice (rather than the date of invoice). Relevant suppliers were not notified of this minor change as they remained on their current terms until expiry of their contracts.
N/A
59 days
No further comment provided
Under Kober’s standard contractual terms, Kober may set off monies payable to a supplier against any monies owed to Kober (and in some cases, any group company) by that supplier.
If a Kober supplier raises a query in respect of an outstanding invoice, payment or deduction, in the first instance it is handled by the Accounts Payable team through a clear query process. If necessary the Accounts Payable team will refer to other business areas within Kober to resolve the enquiry. If the matter remains unresolved within the target turnaround time it is escalated to senior leadership.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No