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NUMATIC INTERNATIONAL LIMITED

Company number: 00773331

Reporting period:
1 January 2021 to 30 June 2021

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This information is as reported by the business, and responses are in their own words.

This report was filed on 26 July 2021

and approved by S B Whitlock

Payment statistics

Average time taken to pay invoices: 41 days

Invoices paid:

• within 30 days: 34%
• in 31 to 60 days: 51%
• in 61 days or more: 15%

Invoices due but not paid within agreed terms: 91 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

90 days

Standard payment terms

Default terms are 60 days, however many different terms apply depending on the nature of supply and negotiation with the supplier. During this qualifying period 29 different terms applied.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

Most payments are made weekly, in the week following the due date. Consequently within the statistic that 91% invoices were paid 'late', 87% were paid within 7 days of the due date.

Dispute resolution process

Disputes may be raised with either the Procurement team or the Accounts Payable supervisor. Resolution expected within 30 days.

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