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RICOH UK LIMITED

Company number: 01271033

Reporting period:
1 April 2023 to 30 September 2023

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

This report was filed on 18 October 2023

and approved by Philip Keoghan

Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

• within 30 days: 79%
• in 31 to 60 days: 20%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 16 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

75 days

Standard payment terms

Standard payment terms for Ricoh UK Ltd state that payment of third party invoices for goods or services will be made within 30 days of receipt of a correct, undisputed and properly due VAT invoice, unless otherwise agreed in writing by a duly authorised representative.

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

No

Maximum contractual payment period agreed

75 days

n/a

Any other information about payment terms

n/a

Dispute resolution process

We endeavour to resolve disputes within the payment terms of the invoice. Disputes are managed by contacting the supplier, to log the dispute. The process is administered by the Accounts payable team in conjunction with the relevant purchaser and the procurement team.

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