Bridgestone subcontractor demands late payment interest

Competition

One of the subcontractors of Bridgestoneʼs Hungarian plant is demanding late payment interest, accusing the local operation of the tire manufacturing giant of regular late payments, according to a report by state news agency MTI.

The claim has become enforceable and Bridgestoneʼs accounts are soon to be collected, translation agency Inter Lingua Kft. told MTI. As a subcontractor of Bridgestone’s Hungarian plant, Inter Lingua has invoiced late payment interest as permitted by the related Hungarian regulations, according to the news agency.

In the statement Inter Lingua sent to MTI, the company charges Bridgestone with regularly paying subcontractors late. It added that it hopes Bridgestone will become more disciplined in financial matters and will meet payment deadlines in future.

In a reaction to the report, Bridgestone Tatabánya Kft. told MTI that it would not comment on the details of current legal issues or commercial contracts, Hungarian online news portal index.hu reported.

However, Bridgestone stressed in its statement sent to MTI that the firm cooperates with 750 suppliers in Hungary, buying services and products from them. These suppliers are either in occasional or long-term contracts with the company, and are being paid under the conditions recorded in their respective agreements to the satisfaction of both parties, index.hu reported.

ADVERTISEMENT

Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.