BIOMET UK LIMITED
Company number: 01019715
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 31 July 2020
and approved by Stewart Richards
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 42%
- in 61 days or more: 32%
Invoices due but not paid within agreed terms: 49 %
Payment terms
Shortest standard payment period
60 days
Longest standard payment period
75 days
Standard payment terms
60 days from date of invoice, 3% discount if paid within 15 days otherwise in full within 75 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
75 days
Any other information about payment terms
N/A
Dispute resolution process
Any disputes are communicated to the supplier, whether it be a quantity or price issue. Once the supplier has raised and sent a credit note or provided proof of delivery then the invoice is paid accordingly.
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