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AMG ALUMINUM UK LIMITED

Company number: 08269137

Reporting period:
1 July 2020 to 31 December 2020


This information is as reported by the business, and responses are in their own words.

This report was filed on 28 January 2021

and approved by L Scaife

Payment statistics

Average time taken to pay invoices: 56 days

Invoices paid:

  • within 30 days: 23%
  • in 31 to 60 days: 32%
  • in 61 days or more: 45%

Invoices due but not paid within agreed terms: 14%

Payment terms

Shortest standard payment periods

45 days

Longest standard payment period

90 days

Standard payment terms

AMG Aluminum 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 Aluminum 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?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

150 days

No further comment provided

Any other information about payment terms

AMG Aluminum 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 Aluminum 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, 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