T.J.SMITH AND NEPHEW,LIMITED
Company number: 00093994
1 January 2018
to 30 June 2018
This report was filed on 20 July 2018
and approved by Ian Melling
Average time taken to pay invoices: 54 days
- within 30 days: 8%
- in 31 to 60 days: 66%
- in 61 days or more: 27%
Invoices due but not paid within agreed terms: 40 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
60 days as standard payment terms in our Standard T&C's
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Any dispute or claim (regardless of its legal or equitable theory) arising in connection with the Order, or any act or omission in its performance shall be resolved solely and finally by binding arbitration conducted by a single arbitrator in accordance with the Rules of Arbitration of the International Chamber of Commerce ("the ICC") The seat of the arbitration will be London. The arbitration language shall be English
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.
Yes – Prompt Payment Code
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?