Score of 90.1/100 qualifies for PaymentCheck Certification
The average time to pay for SAMSUNG C&T U.K. LIMITED has been relatively consistent, with a slight increase from 16 days in the first period to 18 days in the last period. However, the percentage of invoices paid within 30 days has increased from 85% to 92%, showing an improvement in timely payments. The percentage of invoices paid between 31 and 60 days has also decreased from 14% to 8%, indicating a decrease in delayed payments. Overall, there has been a trend towards more timely payments by SAMSUNG C&T U.K. LIMITED.
There is not much volatility in the data, as the average time to pay and percentages of invoices paid within 30 days and between 31 and 60 days have remained relatively stable over the periods. The only change that stands out is the increase in the percentage of invoices paid later than 60 days in the fifth period, but this was followed by a decrease in the next period.
In the first three periods, SAMSUNG C&T U.K. LIMITED had an average time to pay of 16-17 days, with 85-88% of invoices being paid within 30 days and 11-14% of invoices being paid between 31 and 60 days. However, in the fourth period, there was a significant improvement with an average time to pay of only 12 days and 95% of invoices being paid within 30 days. This trend continued in the fifth period with 18 days average time to pay and 87% of invoices being paid within 30 days. In the sixth period, there was a slight increase in average time to pay to 21 days, but the percentage of invoices paid within 30 days remained high at 85%. The most recent period (seventh) showed a return to previous levels, with an average time to pay of 18 days and 92% of invoices being paid within 30 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 2023 - 31 Dec 2023 | 06 Feb 2024 | 12 | 95% | 5% | 0% | 20% |
| 01 Jan 2023 - 30 Jun 2023 | 01 Aug 2023 | 18 | 88% | 11% | 1% | 19% |
| 01 Jul 2022 - 31 Dec 2022 | 08 Feb 2023 | 17 | 87% | 12% | 1% | 23% |
| 01 Jan 2022 - 30 Jun 2022 | 11 Aug 2022 | 18 | 88% | 11% | 1% | 19% |
| 01 Jul 2021 - 31 Dec 2021 | 18 Feb 2022 | 17 | 92% | 8% | 0% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 17 Aug 2021 | 18 | 87% | 12% | 1% | 3% |
| 01 Jul 2020 - 31 Dec 2020 | 12 Mar 2021 | 21 | 85% | 15% | 0% | 16% |
| 01 Jan 2020 - 30 Jun 2020 | 18 Aug 2020 | 18 | 87% | 9% | 4% | 8% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 12 | 95% | 5% | 0% | 6% |
| 01 Jan 2019 - 30 Jun 2019 | 28 Aug 2019 | 17 | 88% | 11% | 1% | 23% |
| 01 Jul 2018 - 31 Dec 2018 | 26 Jul 2019 | 15 | 80% | 20% | 0% | 22% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2019 | 16 | 85% | 14% | 1% | 25% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard terms are payment on receipt of validated invoice. For Natural Resources – Provisional and final payment is on receipt of validated shipping documentation.
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
60
Our purchase orders contain contact details for the accounts function that responds to complaints and investigates and resolves any disputes.
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
Samsung C&T U.K. Limited is a UK registered company, previously named Samsung U.K. Limited until it was renamed in 2010. Its registered business activity, per Companies House, is non-specialised wholesale trade. The company's directors are South Korean nationals, several based in the UK or Germany, indicating it operates as part of a wider Korean corporate group trading under the Samsung C&T name. No further detail on specific products or markets handled is available from the evidence, but the company's classification points to it functioning as a wholesale trading entity rather than a manufacturer, retailer or holding company in its own right.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk