ISHIDA EUROPE LTD.
Company number: 01832141
Reporting period:
21 March 2019 to 20 September 2019
Report filed on:
15 October 2019
Approved by:
MARK JENNINGS
Payment statistics
Average time taken to pay invoices: 44 days
Invoices paid:
- within 30 days: 28%
- in 31 to 60 days: 67%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 10%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The business' default and most commonly used standard payment terms are 30 days end of month following invoice. Payment terms for invoices relating to projects are agreed based on established performance milestones. This excludes any transactions for which credit terms are not applicable (i.e. that are paid immediately in cash or cash equivalent), such as employee expenditure for travel and subsistence.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
180 days
The business uses the maximum payment period with other Ishida Group companies.
Any other information about payment terms
To ensure timely processing, invoices should be sent directly to the accounts payable department (via e-mail at purchase.ledger@ishidaeurope.com, in pdf format), in a clear and readable format, stating the purchase order number and description of the goods/services provided, with all applicable charges and taxes.
Dispute resolution process
When an invoice is disputed, the accounts payable department will inform the supplier and/or the relevant buyer of the reason for dispute. Generally, if the purchase order number is missing from the invoice, the supplier will be directly informed and required to provide the missing information. For disputes on price or quantity or other matters, the buyer will be informed and they will liaise with the supplier to resolve the issue as soon as possible. Once resolved, the accounts payable department will process the invoice for payment. The accounts payable department and the head of supply chain regularly review disputed invoices as well as their causes, and aim to resolve any underlying process issues, if they exist, to avoid these repeating in the future.
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, 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