RENAULT U.K. LIMITED
Company number: 00082932
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
19 July 2024
Approved by:
Benoit LEPAGE
Payment statistics
Average time taken to pay invoices: 3 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 41%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 5%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
30 days end of the month. From the invoice date to the end of the month + 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
no
Any other information about payment terms
no
Dispute resolution process
All suppliers must provide the valid PO no. before they provide the service / ship the goods. If a supplier provide the service / goods without PO no. it's breach in company policy.
A dispute can start if the service / goods provided doesn't confirm with service level agreement.
In above situation, we ask supplier to raise the credit note to compensate the damage.
All invoices without PO sent to Renault UK is firstly considered as fraud attempt.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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