| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 21 | 84% | 10% | 6% | 1% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment terms vary by contract and generally range from 28 days to 90 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
Complaints or concerns would be raised by either the Accounts Payable team or the approving manager within the department with responsibility for the qualifying contract relationship, usually within one working day of receipt. If required, further information is requested from the contractual counterparty to enable the complaint or concern to be investigated fully and resolved. Depending on the circumstances, the invoice would then be paid, or a credit note requested, or an amended invoice may be requested if the original was defective. Resolution of the complaint or concern may be dependent on responses from the contractual counterparty but is typically within 7 to 14 days.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Caterpillar Financial Services (UK) Limited is registered under SIC code 64910, financial leasing, and forms part of the Caterpillar corporate group, whose global site describes its Cat Financial division as providing financing and protection options for customers buying, renting or maintaining Cat equipment. Within this structure the UK entity operates as the group's local financing arm, supporting the leasing and financing of heavy machinery, engines and power systems sold or rented through Caterpillar's dealer network. It does not itself manufacture equipment; its role is confined to arranging financial products connected to Caterpillar branded machinery for UK customers, consistent with its registered financial leasing classification.
Generated from the company's website and Companies House records. Sources: cat.com