GOV.UK
DENSO MANUFACTURING UK LTD.
Company number: 02502865
Reporting period:
1 April 2018
to 30 September 2018
This report was filed on 25 October 2018
and approved by Mark Hayward
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 18%
- in 31 to 60 days: 73%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 8 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
Denso Manufacturing UK (DMUK) operates 30 Days EOM (End of month) standard payment terms. These terms are agreed through our General Purchasing Agreement at the point of Purchase Order. In line with our standard terms, invoices are paid within 30 days following the end of the month in which the Invoice Date falls. The average time from Invoice Receipt to Invoice Payment (Currently 45 days) is therefore reflective of these terms.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
A small number of suppliers have agreed 90 Days EOM (End of month) payment terms in place. These terms are reflective of the nature of goods shipment; which is most often long distance sea freight.
Any other information about payment terms
None
Dispute resolution process
DMUK is committed to prompt invoice payment and follows a standardised process in order to achieve this:
a) Suppliers can raise an invoice query by contacting the Accounts Payable team via telephone (01952 675 344) or via email (invoices@denso-mfg.co.uk)
b) The Accounts Payable team will liase with the relevant departments in order to resolve the query
c) Regular communication will take place with the supplier in order to keep them appraised of the current status and any future payment dates
d) The Accounts Payable team will work with the invoice approver to release the invoice for payment at the earliest opportunity
DMUK demonstrates strong payment performance and continually works to improve this by building strong and open relationships with our supply chain.
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