PILKINGTON TECHNOLOGY MANAGEMENT LIMITED
Company number: SC038385
Reporting period:
1 October 2018 to 31 March 2019
Report filed on:
8 October 2019
Approved by:
Iain Smith
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 16%
- in 31 to 60 days: 66%
- in 61 days or more: 18%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 37%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
NSG agrees to pay within the first 5 days of the month agreed in the contract. For example, YA02 is end of second month, after month of invoice receipt, plus 5 days.
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
140 days
No further comment provided
Any other information about payment terms
We perform weekly payment runs and select the invoices that are approved and due for payment before the following payment run. We have added 2 days to the date of the payment run to allow for clearing through the banking system, but we have not adjusted for weekends as this is overly complicated. This means that some invoices will be reported as late in this report, however, they are less than a week late. Approximately x% of the overall invoices are paid <=7 days overdue.
Dispute resolution process
In the first instance, the suppliers are requested to refer to the telephone and email contact details on the purchase order.
In the event of a dispute or difference arising between the parties, the dispute resolution process is outlined in section 20 of the NSG Group Conditions of Purchase (PCP2) available online at http://www.nsg.com/en/about-nsg/governance/esourcing-contracts-with-suppliers.
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