Industry ranking
Score of 85.2/100 qualifies for PaymentCheck Certification
The average time taken for JAVELIN GLOBAL COMMODITIES (UK) LTD to pay invoices has slightly decreased over the past three periods, from 25 days in 2018 to 22 days in 2021. The percentage of invoices paid within 30 days has also increased, from 73% in 2018 to 83% in 2021. However, there has been an increase in the percentage of invoices paid later than 60 days, from 9% in 2018 to 13% in 2021.
There has been some volatility in JAVELIN GLOBAL COMMODITIES (UK) LTD's payment patterns over the past three periods. While there has been a consistent decrease in the average time taken to pay invoices, there have been fluctuations in the percentage of invoices paid within 30 days and the percentage of invoices paid later than 60 days. This indicates that the company may have inconsistent payment practices.
From 2018 to 2021, JAVELIN GLOBAL COMMODITIES (UK) LTD has shown a slight improvement in their payment practices. The average time taken to pay invoices has decreased, and the percentage of invoices paid within 30 days has increased. However, there has been an increase in the percentage of invoices paid later than 60 days, suggesting that the company may need to work on their payment efficiency. The shortest (or only) standard payment period has remained consistent at 1 day throughout all periods.
| 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 2021 - 30 Jun 2021 | 04 Aug 2021 | 22 | 83% | 13% | 4% | 24% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 24 | 69% | 25% | 6% | 36% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 22 | 74% | 22% | 4% | 46% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 27 | 67% | 23% | 10% | 62% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 28 | 69% | 19% | 12% | 47% |
| 01 Jul 2018 - 31 Dec 2018 | 08 Feb 2019 | 25 | 71% | 20% | 9% | 51% |
| 01 Jan 2018 - 30 Jun 2018 | 13 Aug 2018 | 25 | 73% | 18% | 9% | 38% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms vary dependent on the goods or services provided. For general corporate expenses, the most common agreed payment term is 30 days from receipt of a valid invoice. In the case of commodity related transactions, payment terms vary widely from 1 day to 60 days from receipt of valid invoice
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
In the case of Javelin being in disagreement with any invoice received from a vendor, the dispute is raised by the Javelin contact responsible for managing the relationship. If agreed by the vendor, Javelin would request a credit note or a revised invoice. Formal dispute resolution processes are detailed in contracts with vendors
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
Javelin Global Commodities (UK) Ltd is the UK entity of Javelin Global Commodities, a commodity trading and merchanting group operating across six continents. The wider group markets, trades, hedges, transports, finances and invests in over 20 commodities, including thermal and metallurgical coal, iron ore, steel scrap, non-ferrous and battery metals, agricultural products, oil and refined products, and renewable energy products. It also provides ocean freight and logistics services and merchant banking functions to producers and consumers of these commodities. The UK company, registered in London, forms part of this international group, which also has offices in Singapore, the United States, Poland and India. Companies House lists its business activities as commodity contracts dealing and support services for mining and quarrying.
Generated from the company's website and Companies House records. Sources: javelincommodities.com · javelincommodities.com