BETA This is a new service – your feedback will help us to improve it.

MAINETTI (UK) LIMITED

Company number: SC170666

Reporting period:
1 July 2019 to 31 December 2019

---

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

This report was filed on 29 January 2020

and approved by James Hutchison

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

• within 30 days: 15%
• in 31 to 60 days: 47%
• in 61 days or more: 38%

Invoices due but not paid within agreed terms: 49 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

Suppliers are paid on either 30 or 60 days terms

Were there any changes to the standard payment terms in the reporting period?

Yes – Terms for some suppliers were increased while for other they were reduced.

Were suppliers notified or consulted about these changes before they were made?

Yes – Negotiated with suppliers

Maximum contractual payment period agreed

120 days

For some machinery purchases special terms were negotiated so that stage payments were made as the equipment build progressed. Final payments were contingent on the successful commissioning and trial of the machinery.

Any other information about payment terms

N/A

Dispute resolution process

Suppliers take up the matter with the buyer in the first instance, this can then be escalated to the department manager, then the operations director and finally the managing director if not resolved.

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.

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