FEDERAL-MOGUL LIMITED
Company number: 00163992
Reporting period:
31 July 2024 to 31 December 2024
Report filed on:
29 January 2025
Approved by:
Christoph Narten
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 52%
- in 31 to 60 days: 15%
- in 61 days or more: 33%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 55%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
120 days
Standard payment terms
Most standard payment terms are now 90 days net.
Were there any changes to the standard payment terms in the reporting period?
Change to standard payment terms occurred in September .
Were suppliers notified or consulted about these changes before they were made?
Via email with letter attached
Maximum contractual payment period agreed
120 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
The primary contact for a supplier whose invoice is subject to dispute is a member of Accounts Payable team. Any issue that they are unable to resolve is then referred to the Site Controller for final 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 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