BETA This is a new service – your feedback will help us to improve it.

KOBER LIMITED

Company number: 07443319

Reporting period:
31 December 2022 to 30 June 2023


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

This report was filed on 27 July 2023

and approved by Paul Grover

Payment statistics

Average time taken to pay invoices: 38 days

Invoices paid:

Invoices due but not paid within agreed terms: 8 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

59 days

Standard payment terms

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.

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

Yes – 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.

Were suppliers notified or consulted about these changes before they were made?

No

Maximum contractual payment period agreed

59 days

Any other information about payment terms

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.

Dispute resolution process

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.

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