Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
| 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 Oct 2020 - 31 Mar 2021 | 21 Sept 2021 | 61 | 32% | 27% | 41% | 54% |
| 01 Apr 2020 - 30 Sept 2020 | 21 Sept 2021 | 92 | 20% | 28% | 52% | 52% |
| 01 Oct 2019 - 31 Mar 2020 | 21 Sept 2021 | 73 | 40% | 25% | 35% | 44% |
| 01 Apr 2019 - 30 Sept 2019 | 10 Mar 2020 | 39 | 52% | 27% | 21% | 22% |
| 01 Oct 2018 - 31 Mar 2019 | 10 Mar 2020 | 56 | 37% | 25% | 38% | 48% |
| 01 Apr 2018 - 30 Sept 2018 | 10 Mar 2020 | 57 | 34% | 28% | 38% | 39% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Sertec does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The most common payment terms of invoices paid in the period 30 days DOI, 60 days DOI and 30 Days EOM (invoices payable on the last day of the month following) which equated to circa 45 days average and 60 Days EOM (invoices payable on the last day of the month following) which equated to circa 75 days average.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
75
Any disputes will be investigated by the accounts payable team by liaising with the supplier.
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
Sertec Group Holdings Limited is the holding company for the Sertec group, a Birmingham-based manufacturer of pressed and formed metal components. The wider group specialises in pressings and assembly, coated components, EV solutions, tooling design and manufacture, and supply chain and logistics, primarily serving the automotive and electric vehicle sectors as well as FMCG and industrial markets. Its registered SIC classification covers forging, pressing, stamping and roll-forming of metal. The group operates manufacturing sites in Coleshill and Birmingham, with further operations in Hungary and China. This entity itself functions as the group's holding company rather than an operating manufacturing site.
Generated from the company's website and Companies House records. Sources: sertec.co.uk