The average time to pay for SPX INTERNATIONAL LIMITED has remained relatively consistent over the past three periods, with only a slight increase from 50 days to 52 days. However, there have been significant changes in the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. In the first period, 24% of invoices were paid within 30 days, while in the most recent period, 25% were paid within 30 days. This represents a 4.2% increase. On the other hand, the percentage of invoices paid between 31 and 60 days decreased from 40% to 22% between the first and third periods, a decrease of 45%. The most significant change can be seen in the percentage of invoices paid later than 60 days, which decreased from 36% in the first period to 12% in the most recent period, a decrease of 66.7%. This indicates a trend towards faster payment for SPX INTERNATIONAL LIMITED.
The volatility of SPX INTERNATIONAL LIMITED's average time to pay has been minimal over the past three periods, with only a 4% increase from the first period to the last. However, there has been significant volatility in the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. The percentage of invoices paid within 30 days has fluctuated between 22% and 25%, while the percentage of invoices paid between 31 and 60 days has fluctuated between 38% and 51%. The most significant volatility can be seen in the percentage of invoices paid later than 60 days, which has ranged from 12% to 36%. This indicates a lack of consistency in payment practices for SPX INTERNATIONAL LIMITED.
Overall, the average time to pay for SPX INTERNATIONAL LIMITED has remained consistent over the past three periods, with only a slight increase. However, there have been significant changes in the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. The company has shown a trend towards faster payment, with increases in the percentage of invoices paid within 30 days and decreases in the percentage of invoices paid between 31 and 60 days and later than 60 days. The most significant change can be seen in the decrease of 66.7% in the percentage of invoices paid later than 60 days. It is also worth noting that the shortest (or only) standard payment period for SPX INTERNATIONAL LIMITED is 60 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 2019 - 31 Dec 2019 | 18 May 2020 | 52 | 25% | 63% | 12% | 20% |
| 01 Jan 2019 - 30 Jun 2019 | 05 Dec 2019 | 51 | 22% | 51% | 27% | 40% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 51 | 25% | 38% | 37% | 60% |
| 01 Jan 2018 - 30 Jun 2018 | 09 Nov 2018 | 50 | 24% | 40% | 36% | 52% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms in the reporting period are 60 days from invoice date. In the case of large project contracts, timings of stage payments are agreed up front.
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
90
Supplier payment issues that arise in the first instance are addressed by a dedicated Accounts Payable queries team within the Financial Shared Services centre. Depending on the issue, the Procurement team may be involved to resolve any disputes or issues.
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
SPX INTERNATIONAL LIMITED is a dissolved private limited company, incorporated on 21 March 1953, based in the North West region. Registered business activity: Other manufacturing not elsewhere classified.
From Companies House records.