Published reports

ARCELORMITTAL COMMERCIAL UK LTD

Company number: 00400080

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

Reporting period:

1 July 2021 to 31 December 2021

Report filed on:

21 March 2023

Approved by:

Roy Eshelby

---

Payment statistics

Average time taken to pay invoices: 24 days

Invoices paid:

• within 30 days: 88%
• in 31 to 60 days: 8%
• in 61 days or more: 4%

Late and disputed:

• payments due in the reporting period which have not been paid within the agreed period: 21%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

120 days

Standard payment terms

1st day following end of month of invoicing for supply under Buyer-Reseller agreement. 60 days end of month of invoicing for stock material. 120 days end of month of invoicing (group supplier). 30 days end of month of invoicing for other supplies.

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

120 days

120 days end of month of invoicing (group supplier).

Any other information about payment terms

N/A

Dispute resolution process

Suppliers contact the Finance Dept with any delayed payment queries and we take appropriate action to resolve in a timely manner.

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.

Yes, this business has signed up to: CBI prompt payers code

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