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HONDA OF THE U.K. MANUFACTURING LIMITED

Company number: 01887872

Reporting period:
1 April 2018 to 30 September 2018

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

This report was filed on 25 October 2018

and approved by J Nishimoto

Payment statistics

Average time taken to pay invoices: 46 days

Invoices paid:

• within 30 days: 13%
• in 31 to 60 days: 81%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 8 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

Last Working Day of the month following the date of the invoice

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

No

Maximum contractual payment period agreed

60 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

For suppliers of component parts (used in vehicle manufacture) the first point of contact will be via the Procurement and Logistics Control Group (PLCG) section of the Procurement and Logistics division. Phone number 01793 837652. The PLCG team will then manage this query and liaise with the supplier and the relevant buyer to resolve the dispute

For suppliers of goods and services other than component parts the first point of contact is the Accounts Payable (AP) team within the Finance department. Phone number 01793 834560, email hum.accounts.payable@honda-eu.com. If the AP team are not able to resolve the issue the supplier will be directed to our Shared Service Centre for price related queries, or the person who requested the goods or services for any delivery or quality related 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.

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