Published reports

MUNDIBIOPHARMA LIMITED

Company number: 09273949

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 July 2018 to 31 December 2018

Report filed on:

29 January 2019

Approved by:

David Silver


Payment statistics

Average time taken to pay invoices: 51 days

Invoices paid:

  • within 30 days: 26%
  • in 31 to 60 days: 44%
  • in 61 days or more: 31%

Late and disputed:

  • payments due in the reporting period which have not been paid within the agreed period: 79%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

Contractually Mundibiopharma Limited standard payment terms range between 30 to 60 days, however Mundibiopharma Limited is committed to paying all approved, undisputed invoices promptly and within payment terms. When invoices are disputed Mundibiopharma Limited aims to deal with discrepancies promptly. Following resolution invoices are paid either to payment terms, or on the next weekly payment run. In situations where suppliers have outstanding invoices owed to Mundibiopharma Limited these invoices may be offset against invoices owed by Mundibiopharma Limited to the supplier, subject to the agreement of both parties.

Were there any changes to the standard payment terms in the reporting period?

No

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

No further comment provided

Dispute resolution process

All accounts payable staff are trained and understand the importance of timely, thorough investigation and resolution of invoice disputes. Causes for dispute may include but are not limited to: - non receipt of invoice - goods not received - invoice not matching delivered goods/services - insufficient information - incorrect VAT treatment - errors in invoice details - damaged goods Depending on the reason for the dispute, resolution will be owned by either Accounts Payable or Supplier Co-Ordinators who will liaise with suppliers directly to ensure resolution of the disputed issue. Should the disputed element remain unresolved it is then escalated to management/senior management to agree a resolution with the supplier.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.

No, this business has not signed up to a code of conduct or standards on payment practices.

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.

No

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.

No

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?

No

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No