HAYNES INTERNATIONAL LTD
Company number: 01209891
Reporting period:
1 October 2021 to 31 March 2022
Report filed on:
12 August 2022
Approved by:
Adrian Gargallo
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 38%
- in 31 to 60 days: 50%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
The most frequently used payment terms for qualifying contracts is 30 days EOM. We run our payments once a month on the first working day. Any supplier whose payment terms are out of scope for the monthly payment run have agreed that we can pay invoices early and late to counteract the once a month payment run. We will make a one off payment when necessary to ensure our suppliers are not detrimentally affected
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
75 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Accounts Payable Department will consider the complaint or concern and try to resolve as quickly as possible in both parties best interest. If the complaint/concern is not resolved to satisfaction the matter would be referred to higher management.
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