NORTHERN IRELAND ELECTRICITY NETWORKS LIMITED
Company number: NI026041
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
29 July 2020
Approved by:
Paul Stapleton
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 7%
- in 31 to 60 days: 85%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 19%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
NIE Networks’ standard payment terms state that payment of third party invoices for goods or services will be made within 45 days of receipt of a correct, undisputed and properly due VAT invoice, unless otherwise agreed in writing by a duly authorised representative. Invoices should be submitted promptly to the correct address quoting a valid purchase order. The correct invoicing address, which is included on all purchase orders is; Northern Ireland Electricity Networks Ltd, PO Box 7787, Corby, NN17 9HA.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
NIE Networks’ core values include being committed to our communities and acting with integrity. We therefore endeavour to resolve all disputes in a fair and timely manner. Queries regarding the status of an invoice can be directed to our Accounts Payable Team via the following email address; accountspayable@nienetworks.co.uk For specific contractual disputes please contact the individual who initially ordered the goods or services provided. The agreed contractual dispute process will then be followed.
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, 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.
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