GOV.UK
AMG SUPERALLOYS UK LIMITED
Company number: 00345279
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 25 July 2020
and approved by L Scaife
Payment statistics
Average time taken to pay invoices: 44 days
Invoices paid:
- within 30 days: 21%
- in 31 to 60 days: 49%
- in 61 days or more: 30%
Invoices due but not paid within agreed terms: 16 %
Payment terms
Shortest standard payment period
45 days
Longest standard payment period
90 days
Standard payment terms
AMG Superalloys has differing terms with suppliers depending upon:
1. The nature of the goods and services provided
2. The location of the business providing the goods or service. For example where goods are shipped globally to AMG terms may be longer to account for shipping time.
AMG Superalloys targets payment terms of at least 90 days from date of shipment for raw material supplies and 45 days from date of invoice for other supplies and services.
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
AMG Superalloys agrees payment terms for suppliers in the UK based on paying invoices in the first BACS run after the invoice becomes due. This payment profile is transparent to the suppliers and is agreed with each upon onboarding. There are two BACS payment runs per month.
Dispute resolution process
Overall our policy is to pay valid, undisputed invoices to the timescales agreed with our suppliers. Any payment or other contractual disputes are addressed in a constructive manner. AMG Superalloys communicates a clear contact and escalation process to all suppliers upon initially onboarding each supplier. This has a 2 day timescale and escalation point if the matter is not being addressed adequately.
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