The average time to pay for SIMEC INTERNATIONAL (UK) LIMITED has been consistently around 27-29 days from 2017 to 2020, but there was a significant increase in the last period (2020-12-01 to 2021-05-31) with an average time to pay of 60 days. This is a 122.2% increase compared to the previous period (2020-06-01 to 2020-11-30).
The volatility for SIMEC INTERNATIONAL (UK) LIMITED has been very low, with no major changes in any of the periods analyzed. The average time to pay and percentage of invoices paid within 30 days have remained consistent at 27-29 days and 100% respectively. The percentage of invoices paid between 31-60 days and later than 60 days have consistently been at 0%, indicating a strong commitment to paying invoices on time.
In the last three periods, SIMEC INTERNATIONAL (UK) LIMITED has maintained a consistent average time to pay of around 27-29 days. However, in the most recent period (2020-12-01 to 2021-05-31), there was a significant increase in the average time to pay to 60 days. This is a cause for concern and should be closely monitored to ensure timely payment to suppliers.
| 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 Dec 2020 - 31 May 2021 | 27 Jun 2021 | 60 | 33% | 34% | 33% | 0% |
| 01 Jun 2020 - 30 Nov 2020 | 10 Dec 2020 | 21 | 100% | 0% | 0% | 0% |
| 01 Dec 2019 - 31 May 2020 | 16 Jun 2020 | 29 | 100% | 0% | 0% | 0% |
| 01 Jun 2019 - 30 Nov 2019 | 02 Feb 2020 | 28 | 100% | 0% | 0% | 0% |
| 01 Dec 2018 - 31 May 2019 | 25 Jul 2019 | 27 | 100% | 0% | 0% | 0% |
| 01 Jun 2018 - 30 Nov 2018 | 10 Feb 2019 | 27 | 100% | 0% | 0% | 0% |
| 01 Dec 2017 - 31 May 2018 | 05 Jul 2018 | 27 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms for small supplier (related to expenses) are 1 to 30 days Standard payment terms for trade supplier (related to trade purchases) are 1 to 180 days
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
180
Disputes are resolved on the basis of contractual terms and conditions
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
SIMEC INTERNATIONAL (UK) LIMITED is a private limited company incorporated in 2011, previously registered as AAR TEE STEEL LIMITED. Its registered business activity is the wholesale of metals and metal ores. The company's registered office is linked to Liberty Steel Newport, indicating it operates as part of the wider Liberty/GFG Alliance steel group, with control interests held within that group structure. No further detail on trading operations, products or customer base is available from the evidence supplied. Company accounts are recorded as overdue at Companies House, and the entity remains classified as active.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk