MORGAN TECHNICAL CERAMICS LIMITED
Company number: 00262938
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Clive Parker
Payment statistics
Average time taken to pay invoices: 61 days
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 28%
- in 61 days or more: 52%
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: 25%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Payment terms are always agreed as X days plus end of month, due to a monthly payment cycle. Maximum contractual period is 90 days end of month payable through Santander Supplier Payments facility, giving suppliers ability to drawn down funds early
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
119 days
This is the maximum number of days related to 90days end of month payment terms.
Any other information about payment terms
No further comment provided
Dispute resolution process
The main point of contact for disputes is the Accounts Payable Shared Finance Service Centre based in the UK. When an invoice is disputed, the supplier is required to provide any missing information. PO's have to be booked in, non PO orders have to be authorised in line with site schedule of authority. POs are communicated at time of placing the order
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.
Yes
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