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TATA STEEL UK LIMITED

Company number: 02280000

Reporting period:
1 April 2023 to 30 September 2023

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

This report was filed on 30 October 2023

and approved by Kaushik De

Payment statistics

Average time taken to pay invoices: 95 days

Invoices paid:

  • within 30 days: 6%
  • in 31 to 60 days: 13%
  • in 61 days or more: 81%

Invoices due but not paid within agreed terms: 67%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

180 days

Standard payment terms

Tata Steel UK Limited (“TSUK”) does not have a standard payment term. TSUK has a range of payment terms dependent on a number of factors. The most common payment term used within the company is that payment of undisputed amounts, unless otherwise set out in a Purchase Order, shall be made on the last day of the second calendar month after the month of delivery or performance, provided the invoice quotes the relevant Purchase Order number and relevant Service Entry Sheet (“SES”) number and such invoice reaches TSUK by the 5th of the month following the month of delivery.

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

180 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

TSUK has a dedicated Contact Centre for external communications. The Contact Centre offers support on any query or will assist in directing queries to the relevant department for resolution. The team can be contacted via email (ATCE.Purchase.Accounting@tatasteeleurope.com) or telephone (01639 605300), Monday to Thursday, 8:30am to 4:45pm and Friday, 8:30am to 3:45pm. TSUK attempts to resolve all queries relating to disputed payments at the initial point of contact. Queries left unresolved, and needing investigation after the initial contact, are given a reference number. TSUK will further investigate the unresolved query and provide regular updates to the supplier until resolution.

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.

Yes

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.

Yes

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