HONDA MOTOR EUROPE LIMITED
Company number: 00857969
Reporting period:
1 October 2024 to 31 March 2025
Report filed on:
30 April 2025
Approved by:
Ian Howells
Payment statistics
Average time taken to pay invoices: 54 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 29%
- in 61 days or more: 26%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
30 days net from invoice date
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
Timely payment remains a critical responsibility, particularly in supporting the health and resilience of our small and medium-sized enterprise (SME) supply chain partners. We acknowledge that during this reporting period payment performance was impacted by the implementation of a new ERP system, which temporarily disrupted our standard invoice-to-pay processes. We fully recognise the financial strain late payments can place on smaller businesses, potentially affecting their cash flow and long-term viability. In response, we took proactive steps to mitigate this impact — including the introduction of shorter payment terms and issuing ad hoc payments where necessary — to ensure continued support and stability for our suppliers. These measures reflect our ongoing commitment to fair and responsible procurement practices, even amid operational change
Dispute resolution process
Payment disputes are raised and resolved with the suppliers through the Financial Shared service centre with pricing issues managed through the Procurement Helpdesk. Business issues are raised and resolved through Accounts Payable with escalation to senior management as required
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.
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