Company number: 03230332
and approved by Craig Howarth
Average time taken to pay invoices: 60 days
Invoices paid:
Invoices due but not paid within agreed terms: 68%
0 days
120 days
Standard payment terms for both Leicester and Solartron ISA divisions are between 30 days and 60 days depending upon market conditions, supplier relationships, spend and agreed credit limits and are agreed with each supplier when set-up or if amended.
Answer not provided
N/A
120 days
No further comment provided
There were no changes to our standard payment terms in the reporting period, however payments were not made in line with agreed terms during the COVID-19 period (mid-March onwards) as we struggled to process invoices and resolve queries in a timely manner while a large number of our staff were on furlough.
Reasons for not being able to pay based on terms include receiving late or non-compliant invoices or invoices that are in dispute. Once aware of a query, the Accounts Payable team will look into it with the supplier or Buyer as appropriate and work together to resolve it. Suppliers should initially contact accounts.taylor-hobson@ametek.com (for the Leicester division) or ap-solartronisa@ametek.com (for the Solartron ISA division) if there are overdue invoices and escalate to the Finance Manager or Purchasing Manager if a response is not received in a reasonable timeframe.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No