SGL CARBON FIBERS LIMITED
Company number: SC078081
Reporting period:
1 July 2019 to
31 December 2019
This report was filed on 30 January 2020
and approved by Stephen Easton
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 53%
- in 61 days or more: 16%
Invoices due but not paid within agreed terms: 57%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
a) Standard contractual length of payment of invoice is 30 days end of month (average is therefore 45 days)
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
120 days
b) Maximum contractual payment period is 120 days after goods shipment (and is with a 3rd party raw material supplier). These payment terms were negotiated with the supplier during the contract renewal phase
Any other information about payment terms
Vendor payments are processed on a weekly cycle, and our system automatically captures any invoices due for payment each week. The relatively high reported figure (57%) of invoices "not paid within agreed terms" predominantly relates to items paid less than 5 days late, as they are paid on the first available payment run after falling due.
Dispute resolution process
The Company is committed to working with suppliers to resolve any disputes or complaints. Queries should be directed to our Accounts Payable team in the first instance, who will enlist the support of our Supply Chain team where necessary to ensure a satisfactory resolution.
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