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SUZUKI GB PLC

Company number: 00768587

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 23 October 2023

and approved by Martin Lloyd

Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

• within 30 days: 93%
• in 31 to 60 days: 6%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 21 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

60 days

Standard payment terms

Our standard payment terms are 30 days from invoice date. There are some suppliers with 7 days, 14 days and end of following month.

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

Yes – Previous Terms
The majority of our payment terms are end of month following invoice. There are some suppliers with 7 days, 14 days and 30 days.

New Terms
Our standard payment terms are 30 days from invoice date. There are some suppliers with 7 days, 14 days and end of following month.

The above terms relate to new contract terms only.

Were suppliers notified or consulted about these changes before they were made?

No

Maximum contractual payment period agreed

60 days

n/a

Any other information about payment terms

n/a

Dispute resolution process

Any disputes will be referred to the supplier in the first instance. Ongoing issues will be escalated to our internal legal department. In the reporting period we had no such 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.

Yes

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