MULTIMATIC LTD.
Company number: 03201056
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
30 January 2026
Approved by:
Michael Spence
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 40%
- in 61 days or more: 40%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 55%
Payment terms
Shortest standard payment periods
15 days
Longest standard payment period
60 days
Standard payment terms
60 days from invoices 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
365 days
For production and non production the blanket orders are revised annually. Sometimes reviews happen throughout the year which can change contract prices but this is always agreed between both parties.
Any other information about payment terms
Payment runs are made weekly to ensure all necessary payments are made within the agreed payment terms
Dispute resolution process
Capital/tooling payments relate to progress against milestones - if these are not reached and understood between both parties then this will hold up payment. Forced price changes (occasional) can hold up payment or we pay to the old price to terms and deduct values against new price to realign to old agreed price.
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.
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