ELG HANIEL METALS LTD
Company number: 01517971
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
17 August 2020
Approved by:
MARK VAUGHAN
Payment statistics
Average time taken to pay invoices: 11 days
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 5%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 47%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
ELG Haniel Metals Limited does not use standard terms, instead the terms are determined dependent on the agreement with the Supplier. The most frequently used payment terms are ‘Net Cash Monthly’ where invoices are paid within 1 month however there are different terms depending on the category of supplier.
For UK trade customers the standard terms are 7-14 days.
For Non-UK trade customers the standard terms are Immediate.
For all other invoices (consumables, power, stationary etc) the standard terms are 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If a dispute arises on an invoice this is dealt with by the relevant department for whom the transaction was agreed. Invoices are not paid unless signed off by the authorising personnel and it is their responsibility to notify the supplier of the discrepancy/dispute. This is usually raised within 5 working days from receipt of invoice.
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 Fair 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