Published reports

PREMEX SERVICES LIMITED

Company number: 03281191

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

Reporting period:

1 January 2019 to 30 June 2019

Report filed on:

24 July 2019

Approved by:

Mike Cutler


Payment statistics

Average time taken to pay invoices: 79 days

Invoices paid:

  • within 30 days: 12%
  • in 31 to 60 days: 46%
  • in 61 days or more: 42%

Late and disputed:

  • payments due in the reporting period which have not been paid within the agreed period: 1%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

360 days

Standard payment terms

The most frequent terms wording which has been incorporated into the contract for medical experts states 40 calendar days from the end of the month in which the invoice is received.

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

360 days

Further to the above we do negotiate extended terms with some of our medical experts which can extend to 360 calendar days.

Any other information about payment terms

No further comment provided

Dispute resolution process

Each dispute would be dealt with individually and by our Expert Liaison Department accordingly.

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.

Yes

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.

Yes

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