KUHN FARM MACHINERY(U.K.)LIMITED

Company number: 00996289

Reporting period:
1 January 2023 to 30 June 2023

---

This report was filed on 31 July 2023

and approved by Sian Pritchard

Payment statistics

Average time taken to pay invoices: 85 days

Invoices paid:

• within 30 days: 18%
• in 31 to 60 days: 8%
• in 61 days or more: 74%

Invoices due but not paid within agreed terms: 1%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

120 days

Standard payment terms

Our standard terms for the majority of our UK suppliers is 25 days end of month. Our suppliers in the EU have terms of either 30 days, 60 days or 120 days.

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

120 days

Our largest supplier allows us 120 day payment terms, this therefore has the effect of increasing the average time taken in days to pay invoices.

Any other information about payment terms

The company aims to process all supplier payments efficiently and within the timescales agreed within the particular contracts. To facilitate prompt payment, suppliers are required to comply with the Company's invoicing process.

Dispute resolution process

Queries - In the first instance, suppliers should contact the Company's Accounts Payable department. If the Accounts Payable are unable to resolve the dispute within 7 working days, the dispute may be escalated to the Assistant Accountant. If the Assistant Accountant is unable to resolve the dispute within a further 7 working days, the dispute may be escalated to the Financial Controller.

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.

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