Company number: 01910453
and approved by Victoria Silvester
Average time taken to pay invoices: 64 days
Invoices paid:
Invoices due but not paid within agreed terms: 89%
7 days
Answer not provided
The shortest standard payment terms is 7 days. The longest standard payment days will vary as some suppliers set their terms from the end of the month. Therefore, depending on the invoice date, depends on the number of days till the end of the month and therefore the overall payment days.
Answer not provided
N/A
121 days
The maximum contractual period is 90 days from the end of the month. Assuming an invoice is dated on the first of the month,. this would give a maximum of 21 days
The invoices paid outside of agreed terms of 89% is impacted by our BACS run procedure. A BACS run is completed at the beginning of each month for all invoices due during the previous month, this means that a large number of invoices are shown as paid late, including items late by just 1 day. Our procedure helps to capture invoices monthly in the payment run with a consistent payment pattern for suppliers. In the orthopaedics company it is very common for terms to be 60 days or longer therefore our average number of days to make payments is 45% 60+ days.
First point of contact for disputes in Corin Limited is purchasing department.They will work with the supplier and relevant department manager to solve the issue. Once the issues has been resolved, the supplier will need to provide any missing information or a corrected invoices before payment.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No