BETA This is a new service – your feedback will help us to improve it.

SERTEC ALUMINIUM STRUCTURES LIMITED

Company number: 07735979

Reporting period:
1 October 2020 to 31 March 2021

---

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

This report was filed on 21 September 2021

and approved by Susan McKenna

Payment statistics

Average time taken to pay invoices: 78 days

Invoices paid:

• within 30 days: 53%
• in 31 to 60 days: 15%
• in 61 days or more: 32%

Invoices due but not paid within agreed terms: 23 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

90 days

Standard payment terms

Sertec does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The most common payment terms of invoices paid in the period 30 days DOI, 60 days DOI and 30 Days EOM (invoices payable on the last day of the month following) which equated to circa 45 days average and 60 Days EOM (invoices payable on the last day of the month following) which equated to circa 75 days average.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Sertec does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The longest terms are 90 days end of month which equated to circa 105 days average.

Any other information about payment terms

N/A

Dispute resolution process

Any disputes will be investigated by the accounts payable team by liaising with the supplier.

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

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