The average time taken for TANGENT TRADING LIMITED to pay invoices has increased from 14 days in 2017 to 22 days in 2023. This is a steady increase over the past 6 years.
The company has maintained a consistent standard payment period of 14 days since 2017, indicating stability in their payment process.
| 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 | 30 Jan 2024 | 22 | 67% | 33% | 0% | 35% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 23 | 65% | 35% | 0% | 38% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 24 | 61% | 38% | 1% | 43% |
| 01 Jan 2022 - 30 Jun 2022 | 18 Jul 2022 | 23 | 61% | 39% | 0% | 39% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2022 | 23 | 79% | 21% | 0% | 27% |
| 01 Jan 2020 - 30 Jun 2020 | 24 Jul 2020 | 14 | 100% | 0% | 0% | 0% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 14 | 100% | 0% | 0% | 0% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 14 | 100% | 0% | 0% | 0% |
| 01 Jul 2018 - 31 Dec 2018 | 17 Jan 2019 | 14 | 100% | 0% | 0% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 14 | 100% | 0% | 0% | 0% |
| 01 Jul 2017 - 31 Dec 2017 | 23 Feb 2018 | 14 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Tangent Trading Limited ('Tangent') deals on third party suppliers’ terms rather than its own and therefore does not have standard payment terms, nor does it require that particular sets of payment terms are included in third party supplier contracts depending on the supplier’s size. Tangent does however generally engage with third party suppliers on the following terms: (a) a payment period of 30 days of receipt of the relevant invoice; (b) payment of interest at the rate specified by the supplier in the relevant supplier agreement; and (c) submission to settlement discussions/the English courts (as provided for under the relevant supplier agreement) to determine any dispute if such cannot be resolved amicably between Tangent's Accounts Payables and Legal departments and the relevant supplier.
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
30
Tangent deals on third party suppliers’ terms rather than its own. Invoices must be made out to the correct company name and address and sent via email to the Accounts Payables department; any invoice queries are then directed to the relevant person within the business. Disputes are resolved per the process set out in the relevant supplier agreement involving Tangent's Accounts Payables and Legal departments and the relevant supplier. Any dispute would be governed by the governing law/jurisdiction clause in the relevant supplier agreement which is generally English law/English courts.
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
Tangent Trading Limited trades as Tangent Trading, a recycled metal trading business specialising in non-ferrous scrap, particularly copper and aluminium. Founded in 1985, it has been part of the Marex Group since 2020, drawing on that group's financial strength and global network of customers and suppliers. It operates a BSI ISO9001 accredited quality management system and holds an AQSIQ licence permitting shipment of recycled metals to China, alongside other approvals for international movement of non-ferrous scrap. The company manages logistics across land, maritime and multi-modal shipment routes. Its affiliate, Marex Financial, is a member of the London Metal Exchange, and clients can access Marex's Neon portal for market data and trading insights.
Generated from the company's website and Companies House records. Sources: tangenttrading.co.uk · tangenttrading.co.uk