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NORDIC ENTERTAINMENT GROUP UK LIMITED

Company number: 02228654

Reporting period:
1 January 2019 to 30 June 2019

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

This report was filed on 25 July 2019

and approved by Kevin White

Payment statistics

Average time taken to pay invoices: 44 days

Invoices paid:

• within 30 days: 61%
• in 31 to 60 days: 27%
• in 61 days or more: 12%

Invoices due but not paid within agreed terms: 54 %

Payment terms

Shortest standard payment period

10 days

Longest standard payment period

60 days

Standard payment terms

Standard terms are typically between 30 and 60 days from the receipt of a valid invoice. There are two payment runs per week when valid invoices are paid as they fall due.

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

No

Maximum contractual payment period agreed

1556 days

When acquiring content we may agree to pay instalments over multiple years.

Any other information about payment terms

Payment terms are set out in our contracts with suppliers and are typically in the range 30 to 60 days from receipt of a valid invoice. Under certain long-term contracts invoices are received years in advance of the due date. This increases the maximum contractual payment period.

There are two payment runs per week, therefore some suppliers may receive payment either 1 or 2 working days before or after the stated due date.

Dispute resolution process

We aim to resolve invoice and payment disputes as quickly as possible. The accounts payable function is the first point of contact for dispute resolution. As required the business contact will assist.

Accounts payable should be the first point of contact for payment or invoice queries. Contact should be made using the email address invoices.nentltd@nentgroup.com.

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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