GOV.UK
KYOWA KIRIN LIMITED
Company number: 03504711
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 23 January 2019
and approved by Allan Watson
Payment statistics
Average time taken to pay invoices: 161 days
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 21%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 65 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Unless otherwise agreed in writing, Kyowa Kirin Limited will pay for third party goods or services, within 30 days of receipt of a correct, undisputed and properly due VAT invoice, such invoice to be provided by the supplier within the time contractually agreed with Kyowa Kirin Limited. Invoices must generally state: the contact details of the Kyowa Kirin Limited point of contact; the relevant purchase order number; the period to which the invoice relates; the Supplier’s bank account for payment; all charges and applicable taxes, and a description of the services/products.
If Kyowa Kirin Limited has a bona fide dispute relating to all or some of the supplier’s invoices, Kyowa Kirin Limited may withhold payment of the amount, subject to resolution of the dispute.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
Any other information about payment terms
The disclosed statistics include payments made on historic balances with a Group affiliate. After eliminating intercompany payments from the data, the statistics relating wholly to external suppliers reads as:
Average time taken to pay invoices: 27 days
Invoices paid:
• within 30 days: 75%
• in 31 to 60 days: 20%
• in 61 days or more: 5%
Invoices due but not paid within agreed terms: 62%
Dispute resolution process
Payment disputes are settled in the first instance by the purchase ledger team. In the event that a dispute cannot be resolved by our Accounts Payable team, it would escalate in the first instance to the relevant Head of Department to seek a resolution.
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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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