GOV.UK
NIKE (UK) LIMITED
Company number: 01887016
Reporting period:
1 December 2017
to 31 May 2018
This report was filed on 29 June 2018
and approved by Nigel Bond
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 12%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 18 %
Payment terms
Shortest standard payment period
10 days
Longest standard payment period
90 days
Standard payment terms
30 days for third party vendors, 90 days for intercompany vendors and 10 days for employee expenses.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
90 day terms apply to intercompany transactions only. Maximum payment terms for 3rd party vendors are 45 days.
Any other information about payment terms
Nike UK Limited has chosen the most prudent approach when calculating these metrics, using the document date rather than the system posting date to calculate payment days. In some instances this can be impacted by vendors backdating invoices.
Dispute resolution process
Vendors should contact the finance helpdesk via e-mail in the first instance for all invoicing and payment disputes. The helpdesk may then reach out to the Nike business partner or a member of the Nike Financial Controlling team for assistance and information in order to resolve the dispute. Should this fail, the dispute will be escalated to the Nike Financial Controlling team for correspondence with the vendor in question via e-mail or telephone to enable swift resolution of the dispute.
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.
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.
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