GOV.UK
ITOCHU EUROPE PLC
Company number: 02098168
Reporting period:
1 April 2023
to 30 September 2023
This report was filed on 22 October 2023
and approved by Manabu Nishimura
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 21%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 7 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
180 days
Standard payment terms
Itochu Europe PLC do not have Standard Payment Terms. Payment Terms are agreed for each contract.
The followings are commonly used Payment Terms for each type of contract.
Marketable Commodity Cash Against Document, Cash Against Document via Bank, Letter of Credit at sight
Trading Goods / Services Plastics (Basic Commodity) = 10 days after invoice date
Industrial Textile Material = 30 days after B/L date or Letter of Credit at sight
Meat Products = 30days after B/L date
Operating Expenses 30 days from Invoice Date or at the end of following invoice month
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
180 days
Itochu Europe PLC do not have Standard Payment Period. Payment will be made according to agreed Payment Terms.
Marketable Commodity Cash Against Document, Documents received before 14:00 same day payment, received after 14:00 the following working day (subject to bank holiday of payment currency)
Marketable Commodity Cash Against Document via Bank, within 48 working hours from the receipt of document confirmation from Bank (subject to bank holiday of payment currency)
Marketable Commodity Letter of Credit at sight, within 48 working hours from the receipt of document confirmation from Bank (subject to bank holiday of payment currency)
Trading Goods / Services Letter of Credit at sight, within 48 working hours from the receipt of document confirmation from Bank (subject to bank holiday of payment currency)
Operating Expenses 30 days from Invoice Date
Any other information about payment terms
N/A
Dispute resolution process
If the supplier has concern or complaint, please contact below address by e-mail or letter including some evidences (such as copy of invoice, our order sheet, signed quotation sheet, etc) which would help us to identify the problem. We will reply to you within 3 working days of receipt of communication. If in case we are unable to take an immediate action to resolve the problem, we will indicate an expecting length of time for resolving the problem in our reply.
If our action / reply was not satisfactory and the supplier would like to take the problem further (e.g. dispute / legal action), please contact our Legal Department
Contact Address
Itochu Europe PLC
The BroadGate Tower
20 primrose Street
London EC2 2EW
First Contact Department: Accounts Department
e-mail address: LDN_accounts@itochu co.uk
Further concern Department: Legal Department
e-mail address: legal@itochu co.uk
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