HITACHI RAIL GTS UK LIMITED
Company number: 03132438
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
30 July 2024
Approved by:
James Jackson
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 29%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 15%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Payment by Hitachi Rail GTS UK Ltd (HRGTS UK) shall be 30 days from the date of receipt of the Supplier's invoice.
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 further comment provided
Any other information about payment terms
The Supplier shall submit invoices to the address stated on the Order after Delivery of the Goods or the performance of the Services.
Every invoice shall include the following information: Order number and the Order item number; Goods and/or Services to which it relates; Supplier’s VAT number; Supplier’s bank account number, sort code and invoice address; invoice number; date of the invoice; HRGTS UK and the full address; Delivery Address; Price and the total amount due; and any other information reasonably required by HRGTS UK.
HRGTS UK may reject any invoice that does not include the information set out above.
No payments shall be made until and unless the Goods and/or Services have been accepted.
HRGTS UK shall be entitled to set off against the Price any sums that are owed to HRGTS UK by the Supplier.
If HRGTS UK does not make a payment against a correctly submitted invoice within the period stated in standard payment terms, the Supplier may charge interest on such late payment at a rate no greater than 2% per annum above the Bank of England’s base rate calculated on a daily basis commencing 14 days from the date on which payment was due providing that the Supplier has given 14 days written notice to HRGTS UK that such payment is overdue.
Dispute resolution process
HRGTS UK will endeavor to advise suppliers promptly of any disputes or reasons why an invoice will not be paid to the agreed terms. Invoices that are subject to dispute will not be paid until resolution of the dispute. Once resolved, payment will be made in accordance with the terms of the contract, this document and the UK Prompt Payment Code.
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