The average time taken for FINE TUBES LIMITED to pay invoices to suppliers has been fluctuating over the past three periods, with a slight increase in the most recent period.
The average time taken for FINE TUBES LIMITED to pay invoices has been relatively stable, with a slight increase in the most recent period.
From Jan 2019 to Dec 2020, FINE TUBES LIMITED has seen a slight increase in the average time taken to pay invoices, going from 72 days to 80 days.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2020 - 31 Dec 2020 | 26 Jan 2021 | 80 | 12% | 27% | 61% | 84% |
| 01 Jan 2020 - 30 Jun 2020 | 27 Jul 2020 | 70 | 9% | 47% | 44% | 79% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 80 | 20% | 29% | 51% | 59% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 72 | 14% | 31% | 55% | 58% |
| 01 Jun 2018 - 31 Dec 2018 | 30 Jan 2019 | 66 | 30% | 26% | 44% | 64% |
| 01 Jun 2018 - 30 Jun 2018 | 30 Jul 2018 | 68 | 26% | 19% | 55% | 47% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms for Fine Tubes are between 0 days and 150 days depending upon market conditions, supplier relationships, spend and agreed credit limits and are agreed with each supplier when set-up or if amended.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
150
Reasons for not being able to pay based on terms include receiving late or non-compliant invoices or invoices that are in dispute. Once aware of a query, the Accounts Payable team will look into it with the supplier or Buyer as appropriate and work together to resolve them. Suppliers should initially contact ap.finetubes@ametek.com if there are overdue invoices and escalate to the Finance Manager or Purchasing Manager if a response is not received in a reasonable timeframe.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Fine Tubes Limited manufactures precision seamless and welded tubes in stainless steel, titanium and nickel alloys, supplying redrawn tube forms to demanding sectors including aerospace, space, defence, oil and gas, nuclear and medical applications. The company, based in Leicester, has over 75 years of engineering history and describes itself as developing custom-made tubes to exacting specifications for critical environments. It operates as part of AMETEK Specialty Metal Products, a division of the wider AMETEK group, contributing precision tube manufacturing expertise within that corporate structure. Its products serve as components used in further manufacturing processes across high-performance industrial and engineering markets worldwide.
Generated from the company's website and Companies House records. Sources: finetubes.com · finetubes.com