ENERMECH LIMITED
Company number: SC338731
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 3 September 2019
and approved by Michael Buchan
Payment statistics
Average time taken to pay invoices: 61 days
Invoices paid:
- within 30 days: 16%
- in 31 to 60 days: 30%
- in 61 days or more: 54%
Invoices due but not paid within agreed terms: 56 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms used are 60 days of receipt of a correctly prepared and adequately supported invoice. https://www.enermech.com/downloads/terms-and-conditions/44-enermech-standard-terms-conditions-of-purchase
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
Supplier payment runs are carried out once a week which can lead to payment being made a few days over the payment terms leading to the average of 61 days.
Dispute resolution process
Suppliers are notified of any disputes with their invoices by our EnerMech Accounts team. All communication is made via our dedicated mailbox - accounts@enermech.com. Once any disputes have been resolved payment will be made in line with the agreed terms.
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