The average time to pay for EXOVA (UK) LIMITED has been fluctuating over the past three periods, with a decrease of 4 days from 2017-01-01 to 2017-12-31, followed by an increase of 4 days from 2017-07-01 to 2017-12-31, and then a decrease of 4 days again from 2018-01-01 to 2018-06-30.
The volatility in the average time to pay for EXOVA (UK) LIMITED has been relatively stable, with a difference of only 8 days between the highest and lowest 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 2018 - 30 Jun 2018 | 02 Jan 2019 | 49 | 37% | 51% | 12% | 26% |
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 pay supplier invoices within the supplier terms and to abide by those terms based on the timely submission of satisfactory invoices. Supplier payment terms are agreed individually with each supplier either prior to or upon commencement of a service or the delivery of goods. The most common payment terms agreed during the period were 60 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
The company operates weekly payment runs, the analysis provided is based on the company’s policy to pay invoices in the payment run on or following the due date
Maximum contractual payment period agreed
71
Disputes should be resolved to adhere to payment terms. All our suppliers have clear contact details for our Accounts Payable team, so if they have any disputes or complaints they can contact the company by either email or phone. The accounts payable team will reach out to the invoice contact if not clear from the system why the invoice has not been approved for payment.
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
Exova (UK) Limited is a Scottish-registered company with a long history of trading under different names, including Metallurgical Testing Services (Scotland) Limited, MTS Scotland Limited, Bodycote Materials Testing Limited and Bodycote Testing Limited, before adopting its current name. This history indicates a background in materials and metallurgical testing services. According to Companies House records, its current nature of business is classified as a non-trading company, meaning it does not currently carry out active trading operations. The company remains an active, registered legal entity, likely functioning now as part of a wider corporate group rather than as an operating testing business in its own right.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk