METTIS AEROSPACE LIMITED
Company number: 03292360
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
29 January 2021
Approved by:
Philip Taylor
Payment statistics
Average time taken to pay invoices: 72 days
Invoices paid:
- within 30 days: 11%
- in 31 to 60 days: 25%
- in 61 days or more: 64%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 27%
Payment terms
Shortest standard payment periods
105 days
Longest standard payment period
Answer not provided
Standard payment terms
The standard payment period will vary as the standard payment terms reference the end of the month of invoice. On average it is equivalent to 105 days from the date of invoice.
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
105 days
The maximum payment terms are payment at 90 days from the end of the month of invoice. On average this is equivalent to 105 days from date of invoice.
Any other information about payment terms
Mettis' standard terms are to pay suppliers within 90 days of the end of the month of invoice on receipt of an accurate and valid VAT invoice. Mettis shall only be obliged to make payments where Mettis is satisfied that the work has been performed in accordance with the agreement with the supplier and to an acceptable standard. Invoices dated prior to delivery or supply being completed will be treated as if dated at the time of completion of delivery or supply. Other payment terms may be negotiated and agreed depending on the commercial situation on a case by case basis.
Dispute resolution process
Mettis will endeavour to resolve any dispute reasonably and seeks to have an open, constructive and effective relationship with all suppliers, as it believes they are integral to Mettis’ success. Suppliers should address any queries on the acceptance of the service or goods provided to their Mettis contact who has placed the order. Where there is any other query on the invoice they should contact Accounts Payable. Accounts Payable will advise on the invoice approval status and, once the invoice is accepted, advise when payment is to be made.
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