Company number: 02586467
and approved by David Farmer
Average time taken to pay invoices: 45 days
Invoices paid:
Invoices due but not paid within agreed terms: 45%
60 days
Answer not provided
Under the NSG Group's Standard payment term, payment is due within the first 5 days of the agreed month following the month after the invoice has been received from the supplier.
Answer not provided
N/A
90 days
No further comment provided
The company performs weekly payment runs and selects the invoices that are approved and due for payment before the following payment run. To determine the date that the payments have been received when calculating the above payment statistics, we have added 2 working days to the date of the payment run to allow for clearing through the banking system. Approximately 86% of the overall invoices are paid on time, or are paid within 7 working days of their due date.
In the first instance, the suppliers are requested to refer to the telephone and email contact details on the purchase order. In the evenet 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.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No