NPL MANAGEMENT LIMITED

Company number: 02937881

Reporting period:
1 January 2018 to 30 June 2018

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This report was filed on 26 July 2018

and approved by Martyn Sene

Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

• within 30 days: 71%
• in 31 to 60 days: 28%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 1%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

http://www.npl.co.uk/upload/pdf/npl_terms_conditions_purchasing.pdf On submission of a valid invoice quoting NPL's Purchase Order number and confirming that (a) the Goods have been delivered to NPL and NPL have accepted such Goods or (b) the Services have been performed and NPL has accepted such Services, NPL shall pay each validly submitted invoice of the Supplier within thirty (30) working days of receipt.

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

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

All supplier invoices should be emailed to Accounts@npl.co.uk in pdf format , one invoice per file, clearly noting the Purchase Order.  NPL operates a No PO No Pay policy.  Invoices received without a PO will be returned.  Correctly received, receipted (if necessary) invoices once validated will be paid on the next available pay run in accordance to the payment terms agreed at the point of supplier creation.  NPL standard terms are 30 days.  Validation occurs when PO value and invoice value match and are receipted (if necessary).  Pay runs are generally twice monthly, every other Wednesday.  Any issues regarding payment terms should be addressed to Procurement@npl.co.uk.  Should payment not be made in the above timescale the supplier should contact accounts@npl.co.uk , outlining the issue and providing any supporting documents ie invoice/PO/correspondence that will aid resolution.  We will thereafter look to speedily resolve any issue by way of contacting the Procurement team should receipting be required or some delivery/performance issue require further investigation.

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