MAINETTI (UK) LIMITED
Company number: SC170666
Reporting period:
1 July 2019 to
31 December 2019
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 periods
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?
Terms for some suppliers were increased while for other they were reduced.
Were suppliers notified or consulted about these changes before they were made?
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, 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.
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