Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The average payment time of 42 days, coupled with 35% of payments extending beyond 60 days, clearly indicates a trend towards extended payment cycles. Only 39% of invoices are paid within standard 30-day terms, suggesting a consistent trajectory of slower payments for suppliers.
Payment reliability is low, with 51% of payments classified as late and a substantial 35% settling after 60 days. This wide spread in payment timing, from 39% on-time to 35% very late, makes payment predictability challenging and introduces significant cash flow risk for suppliers.
Suppliers should approach HUSCO INTERNATIONAL PARTNERS LLP with caution due to the high likelihood of delayed payments. Key decision factors include the 42-day average payment time and the considerable 51% late payment rate. Mitigate risk by considering shorter payment terms, partial upfront payments, or incorporating working capital costs into pricing.
| 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 2024 - 30 Jun 2024 | 09 Jul 2024 | 42 | 39% | 26% | 35% | 51% |
| 01 Jul 2023 - 31 Dec 2023 | 19 Feb 2024 | 48 | 30% | 33% | 37% | 58% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard / default payment terms are 60 days EOM. We run one monthly payment run which is at the beginning of every month, so the majority of our suppliers are paid within 6 days of the EOM.
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
90
We will liaise with our purchasing team along with the suppliers to ensure resolution is met. If invoices are queried, Purchasing normally let the supplier know about the dispute and we will also reply to the finance contacts regarding the query.
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
Husco International Partners LLP is based in Runcorn, Cheshire, and is described on the group's website as Husco's European headquarters. The wider Husco group, headquartered in the United States, designs and manufactures hydraulic and electro-mechanical control components for automotive and off-highway mobile equipment, including agricultural, construction and material handling machinery, with additional manufacturing and engineering sites in the US, China, India, Brazil and Germany. The UK entity forms part of this international group's European operations, supporting manufacturing, sales, engineering and research and development activities for customers across Europe and Western Asia. It does not appear to trade under any name other than that shown on the Companies House record.
Generated from the company's website and Companies House records. Sources: husco.com · husco.com · husco.com