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DUFERCO UK LIMITED

Company number: 03538773

Reporting period:
1 October 2018 to 31 March 2019

This information is as reported by the business, and responses are in their own words.

This report was filed on 29 April 2019

and approved by ENRICO TOSCHI

Payment statistics

Average time taken to pay invoices: 52 days

Invoices paid:

  • within 30 days: 25%
  • in 31 to 60 days: 53%
  • in 61 days or more: 22%

Invoices due but not paid within agreed terms: 71%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

45 days

Standard payment terms

"Duferco UK (DUK) has three different kind of suppliers: 1. suppliers of material, 2. suppliers of service (e.g. transportation cost, storage etc.), 3. suppliers of overhead (e.g. auditors, consultants, etc.). Each of these three categories has differents payment terms and different practices. 1. MATERIAL: the standard payment term is 45 days from bill of lading date. IMPORTANT NOTE: DUK buy most of the material from Duferco SA, a related group company based in Switzerland. DUFERCO SA ALLOW DUK TO DELAY PAYMENTS OF MATERIAL, THEREFORE THE STATISTICS ON THE UNPAID INVOICES PRESENTED IN THIS REPORT WILL BE NEGATIVELY IMPACTED BY THESE INTRAGROUP (AND INTERNATIONAL) TRANSACTIONS. 2. SERVICE: the standard payment term is 30 days from invoice date. 3. OVERHEAD: the standard payment term is by net monthly account."

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

63 days

No further comment provided

Any other information about payment terms

IMPORTANT NOTE: DUK buy most of the material from Duferco SA, a related group company based in Switzerland. DUFERCO SA ALLOW DUK TO DELAY PAYMENTS OF MATERIAL, THEREFORE THE STATISTICS ON THE UNPAID INVOICES PRESENTED IN THIS REPORT WILL BE NEGATIVELY IMPACTED BY THESE INTRAGROUP (AND INTERNATIONAL) TRANSACTIONS.

Dispute resolution process

DUK has a very solid relationship with its suppliers and in case of disputes, they are resolved through negotiations both verbally and written. The department in charge of this process is the accounting and payable office. 

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