SERTEC GROUP HOLDINGS LIMITED
Company number: 02957238
Reporting period:
1 October 2019
to 31 March 2020
This report was filed on 21 September 2021
and approved by Susan McKenna
Payment statistics
Average time taken to pay invoices: 73 days
Invoices paid:
- within 30 days: 40%
- in 31 to 60 days: 25%
- in 61 days or more: 35%
Invoices due but not paid within agreed terms: 44 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
75 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
75 days
Sertec does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The longest terms are 75 days from date of invoice.
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