Ranked in 5 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
SERVICES MACHINERY & TRUCKS LTD exhibits an average payment time of 42 days, indicating a consistent pattern of exceeding standard 30-day payment terms. A dominant trend shows 46% of payments occurring within 31-60 days, with a further 20% extending beyond 60 days, signifying prolonged payment cycles.
With 56% of all payments being late and 20% falling into the "over 60 days" category, this company presents a high degree of unreliability and unpredictability regarding payment timelines. Suppliers face a significant risk of inconsistent cash flow due to the prevalent delays and extended payment periods.
Suppliers should factor in substantial delays to their cash flow due to the company's average 42-day payment time and 56% late payment rate. It is advisable to consider implementing stricter payment terms, such as upfront deposits or shorter net payment windows, to mitigate financial exposure and ensure healthier working capital.
| 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 2020 - 30 Jun 2020 | 03 Aug 2020 | 32 | 39% | 47% | 15% | 71% |
| 01 Jul 2019 - 31 Dec 2019 | 23 Jan 2020 | 23 | 65% | 30% | 5% | 56% |
| 01 Jan 2019 - 30 Jun 2019 | 01 Aug 2019 | 27 | 65% | 29% | 5% | 55% |
| 01 Jul 2018 - 31 Dec 2018 | 13 May 2019 | 42 | 34% | 46% | 20% | 56% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
End of month plus 30days
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
120
Our most common dispute is simply missing the invoice, therefore a copy is requested and paid as usual. Any supplier invoice disputes over quantity or price would be tracked by the Accounts Payable but passed to the order placer to investigate and resolve. If the query cannot be resolved at Depot Level then Finance contact the Supplier for a credit note or proof of delivery etc. If no resolution can be found the supplier would be put on stop, so no further orders can be placed.
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
Services Machinery & Trucks Ltd is a private limited company registered in Duxford, Cambridge, incorporated in June 2017 and currently active. According to its registered business classifications, it operates in the sale of motor vehicles and heavy machinery, including trucks, and provides maintenance and repair services for motor vehicles. It also deals in motor vehicle parts and accessories at retail level, and acts as an agent for the sale of machinery, industrial equipment, ships and aircraft. No further first-party description of trading activity, products or customer base is available from the supplied evidence.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk