TW METALS LIMITED
Company number: 00961098
Reporting period:
1 June 2018
to 31 December 2018
This report was filed on 27 February 2019
and approved by Chris Lewis
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 28%
- in 31 to 60 days: 46%
- in 61 days or more: 26%
Invoices due but not paid within agreed terms: 17 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
105 days
Standard payment terms
60 days end of month is our most frequently used payment terms.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
105 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
If there is a dispute we will refer to the contract (if applicable) along with communicating directly with the suppliers to resolve an issue.
We also have Quality Management Systems AS9120 and ISO9001 which are followed to ensure all customer and supplier complaints are recorded and managed effectively.
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