KUEHNE + NAGEL LIMITED
Company number: 01722216
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
31 January 2025
Approved by:
Allison Best
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 50%
- in 31 to 60 days: 40%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 25%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Invoice date +60days, Government contracts invoice date +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 further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoices that exceed an accrual are “stopped” for payment pending resolution (in dispute status). A central function called UK Invoice Dispute Team, in tandem with the restructured Working capital team, are responsible for communicating details of the dispute to the supplier and dealing with all subsequent communications. Invoices are automatically released for payment on receipt of the suppliers credit note, or on acceptance of the original charge. The AP manager and finance assistant will create and provide branch training and support to elevate the operational colleague’s awareness to resolve invoices and handle queries in a timely manner to avoid delays to payment. As the responsibility to resolve queries sits with the operational colleagues based within the branch network.
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.
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.
Yes
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