GOV.UK
NPL MANAGEMENT LIMITED
Company number: 02937881
Reporting period:
1 January 2018
to 30 June 2018
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
Standard payment period for qualifying contracts
30 days
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?
No
Maximum contractual payment period agreed
30 days
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
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