ARCELORMITTAL COMMERCIAL UK LTD
Company number: 00400080
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
18 July 2019
Approved by:
Stephen Ward-Jones
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 8%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 26%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
Answer not provided
Standard payment terms
1st day following end of month of invoicing for supply under Buyer-Reseller arrangement 60 days end of month of invoicing for stock material 30 days end of month of invoicing for other supplies
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
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers will contact the finance dept. to resolve any late payments. Finance will confirm via email/telephone call any reason for payment delay/dispute and will aim to solve these as quickly as possible.
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.
Yes, this business has signed up to: CBI prompt payers code
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.
Yes
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