BRITISH STEEL LIMITED
Company number: 09438207
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
29 October 2018
Approved by:
Gerald Reichmann
Payment statistics
Average time taken to pay invoices: 70 days
Invoices paid:
- within 30 days: 14%
- in 31 to 60 days: 29%
- in 61 days or more: 57%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 80%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms are the end of the month 60 days after the date of the invoice. Longest standard payment terms are the end of the month 90 days after the date of the invoice.
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
90 days
Maximum contractual payment terms are the end of the month 90 days after the date of the invoice.
Any other information about payment terms
No further comment provided
Dispute resolution process
A supplier will be made aware as early as possible if there is a dispute with their invoice. The invoice will be parked until the dispute is resolved. Once resolved the invoice will be paid in accordance with the terms of the order or on the next available payment run if the dispute makes the invoice overdue.
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