HOWMET FASTENING SYSTEMS LIMITED demonstrates an average payment time of 55 days, with the majority of payments (54%) falling within the 31-60 day range. This trend indicates a consistent trajectory towards extended payment terms, with a significant 33% of payments further extending beyond 60 days.
Payment reliability is moderate, as 33% of invoices are paid over 60 days, contributing to a 16% late payment rate. This distribution introduces unpredictability for cash flow, suggesting a notable risk of payments extending well beyond the average and impacting supplier working capital planning.
Suppliers should anticipate an average payment cycle of 55 days, recognizing a high probability of payments extending beyond 60 days. It is advisable to adjust credit terms accordingly or implement strategies, such as factoring in longer payment lead times, to mitigate potential cash flow strain.
| 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 Jan 2025 - 30 Jun 2025 | 29 Jul 2025 | 67 | 5% | 30% | 65% | 9% |
| 01 Jul 2024 - 31 Dec 2024 | 29 Jan 2025 | 55 | 13% | 54% | 33% | 16% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 90 days EOAP (end of accumulation period), unless otherwise stated in the purchase order or contract.
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
In the case of disputes, suppliers should contact Accounts Payable who will then refer the issue to the appropriate internal department.
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
HOWMET FASTENING SYSTEMS LIMITED is an active private limited company that specialises in fastening systems. Its core business focuses on the development, production, or distribution of components used for joining or securing materials across various industries.
The company is registered in England under company number 01736094, having been incorporated on 1 July 1983. It is based in the West Midlands, with its registered office located at Unit C, Stafford Park 7, Telford, Shropshire, England, TF3 3BQ.
Companies operating in fastening systems typically provide a comprehensive range of products and services to the UK market. This often encompasses the manufacture, supply, and distribution of standard and custom-engineered fastening solutions, including bolts, screws, nuts, rivets, washers, and clips. These products are crucial for sectors such as aerospace, automotive, construction, and general manufacturing, ensuring secure and reliable connections.