NUMIS CORPORATION PLC
Company number: 02375296
Reporting period:
1 October 2018
to 31 March 2019
This report was filed on 6 December 2019
and approved by Andrew Holloway
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 51%
- in 31 to 60 days: 34%
- in 61 days or more: 15%
Invoices due but not paid within agreed terms: 49 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
The company's policy is to pay suppliers within the agreed credit terms of 30 days. Occasionally minor payment delays may occur if invoices are disputed.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
The company has a dedicated email address for vendors to submit invoices and invoice queries. The accounts payable team will reach out to the invoice contact if it is not clear why an invoice has not been approved for payment. Any payment disputes are considered by the relevant Head of Department and if necessary the Chief Financial Officer. Disputes will be resolved as soon as practicably possible.
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