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ALMAC SCIENCES LIMITED

Company number: NI041550

Reporting period:
1 April 2021 to 30 September 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 27 October 2021

and approved by Niall Harkin

Payment statistics

Average time taken to pay invoices: 56 days

Invoices paid:

• within 30 days: 8%
• in 31 to 60 days: 75%
• in 61 days or more: 17%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Standard payment period for qualifying contracts

1 days

Standard payment terms

45 Days from invoice date, unless otherwise agreed

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

No

Maximum contractual payment period agreed

45 days

Invoices are paid only if correctly presented with all necessary information and only when approved by the relevant buyer. As a result, payment terms may be impacted where time is required to resolve queries

Any other information about payment terms

N/A

Dispute resolution process

Payment disputes are handled by the Accounts Payable team, which liaises with the suppliers and the company’s buyers as necessary to resolve invoice and payment queries in a timely manner. Where correction of an invoice is necessary, payment is processed as soon as reasonably practicable following receipt of corrected invoice. The Accounts Payable team may be contacted via a dedicated Accounts Payable mailbox or by telephone

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