The data for ENERMECH LIMITED shows a decrease in the average time taken to pay invoices over the three periods analysed. In the first period (Jan 2018 - June 2018), the average time was 66 days, which decreased to 61 days in the third period (Jan 2019 - June 2019). This indicates that the company has been improving in terms of prompt payment to suppliers.
The data for ENERMECH LIMITED also shows a decrease in the percentage of invoices paid later than 60 days and an increase in the percentage of invoices paid within 30 days. This indicates that the company has become more consistent in their payment patterns and has been making efforts to pay invoices on time.
| 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 2019 - 30 Jun 2019 | 03 Sept 2019 | 61 | 16% | 30% | 54% | 56% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 66 | 15% | 27% | 58% | 60% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 66 | 13% | 29% | 58% | 61% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms used are 60 days of receipt of a correctly prepared and adequately supported invoice. https://www.enermech.com/downloads/terms-and-conditions/44-enermech-standard-terms-conditions-of-purchase
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Supplier payment runs are carried out once a week which can lead to payment being made a few days over the payment terms leading to the average of 61 days.
Maximum contractual payment period agreed
90
Suppliers are notified of any disputes with their invoices by our EnerMech Accounts team. All communication is made via our dedicated mailbox - accounts@enermech.com. Once any disputes have been resolved payment will be made in line with the agreed terms.
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
EnerMech Limited is registered in Scotland and is part of the EnerMech group, which provides integrated engineering and technical services for energy and industrial projects worldwide. The group supports the full asset life-cycle, covering front-end engineering, construction, pre-commissioning, commissioning, operations and maintenance, shutdowns and turnarounds, and late-life decommissioning. Its service lines include process, pipelines, subsea and umbilicals, valves, fluid power, lifting and cranes, inspection, electrical and instrumentation, and equipment rental, serving oil and gas, LNG, petrochemical, refining and alternative energy markets. Originating from North Sea Oil and Gas roots, the group now operates across multiple global regions, combining equipment, technology and technical expertise for clients managing complex energy infrastructure.
Generated from the company's website and Companies House records. Sources: enermech.com · enermech.com · enermech.com