| 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 Nov 2018 - 30 Apr 2019 | 03 Jul 2019 | 37 | 31% | 61% | 8% | 8% |
| 01 May 2018 - 31 Oct 2018 | 03 Jul 2019 | 40 | 28% | 61% | 11% | 11% |
| 01 May 2017 - 31 Oct 2017 | 01 Feb 2018 | 47 | 27% | 50% | 23% | 23% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
It is the Company's policy to agree appropriate terms of payment with suppliers and to abide by those terms based on the timely submission of satisfactory invoices and supporting documentation. The Company normally settles trade payables on 30 or 60 day terms.
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
The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone's satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our Accounts team, it would be escalated in the first instance to the relevant Head of Department to seek a resolution.
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
MacTaggart, Scott & Company Limited is a Scottish engineering manufacturer based in Loanhead, Midlothian, specialising in naval engineering. It designs and manufactures fluid power equipment, pumps, and lifting and handling machinery for demanding marine and defence applications. The company describes a long-standing reputation for quality, innovation and reliability, working closely with customers to produce equipment they depend on. It has been operating for many years and continues to recruit engineering talent for its Scottish site. The business is registered in Scotland and remains an active company, focused solely on the design and manufacture of specialist naval engineering products rather than general industrial goods.
Generated from the company's website and Companies House records. Sources: mactag.com · mactag.com