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NUMIS CORPORATION PLC

Company number: 02375296

Reporting period:
1 April 2019 to 30 September 2019


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

This report was filed on 6 December 2019

and approved by Andrew Holloway

Payment statistics

Average time taken to pay invoices: 38 days

Invoices paid:

Invoices due but not paid within agreed terms: 48 %

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