STADCO LIMITED

Company number: 00008614

Reporting period:
1 January 2023 to 30 June 2023

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This report was filed on 26 July 2023

and approved by Graeme White

Payment statistics

Average time taken to pay invoices: 62 days

Invoices paid:

• within 30 days: 8%
• in 31 to 60 days: 36%
• in 61 days or more: 56%

Invoices due but not paid within agreed terms: 59%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

Stadco Limited typically uses standard terms of EOM60. There are other items in place such as EOM30 or NOW (due immediately) but typically it is EOM60 in the large majority of cases.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

For the supply of direct items we have a number of BOS (Business Operating Systems) processes and an interactive supplier portal that deals with the complaint, the resolution and close out of the complaint. All the activities throughout the process are date stamped for both target close out and actual so we can monitor performance. This is a cross functional activity which can involve Quality, MP&L and Purchasing. For indirect items the Purchasing function endeavor to resolve any disputes. These are tabled to Purchasing through all functions of the business. In the event that Purchasing cannot resolve the issue then this is escalated for support to the seniors within our business and our Corporate Legal Department

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, 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