KIN AND CARTA UK LIMITED
Company number: 01897720
Reporting period:
1 February 2024 to 31 July 2024
Report filed on:
30 August 2024
Approved by:
Alexandre Olivier DETROIS
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 45%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 49%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms are End of the month following the month in which the invoice is issued. This is included in the New supplier form that is provided to each new vendor for signature. In some cases different payment terms could be agreed with suppliers. They could vary between 0 and 60 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 further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
1. The party wishing to commence dispute proceedings to notify other party's Project Contact of the existence of a dispute.
2. Within 10 business days, both parties shall meet to discuss / attempt to resolve.
3. If unable to resolve within 10 business days, the relevant executive of each party shall be notified and shall meet within 10 business days following the initial executive escalation.
4. If still unresolved within 30 business days, parties can consider mediation (in accordance with the International Chamber of Commerce Mediation Rules).
5. If still unresolved, parties shall use arbitration (conducted by a sole arbitrator under the Rules of Arbitration of the International Chamber of Commerce) - any arbitration award shall be final.
Note - not all suppliers have this provision agreed as it depends on the extent of contract negotiations etc.
A starting point for all supplier queries is to send an email to our accounts payable team on ap.uk@kinandcarta.com.
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