NAGEL LANGDONS LTD
Company number: 01026181
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
7 January 2022
Approved by:
Renee Barrett
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 40%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
70 days
Standard payment terms
Standard payment terms are 30 days end of month however we do have a range of payment terms with trade suppliers that range from due on receipt of invoice to 70 days. We also process Claims for damages to goods in transit. Payment terms for each claim is assessed individually and time to pay will range from weeks to several months depending on the complexity of the case
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
70 days
Maximum contractual payment period agreed is 70 days
Any other information about payment terms
We also process Claims for damages to goods in transit. Payment terms for each claim is assessed individually and time to pay will range from weeks to several months depending on the complexity of the case
Dispute resolution process
We initially establish if whether the invoice has been received, if not, a copy is requested If an invoice has been received, it is then established if the invoices has been appropriately authorised and is due for payment in accordance with the Supplier payment terms. If this is the case payment is processed. If not, the reasons for none payment are investigated and the appropriate action is taken. In the rare occasion that the matter cannot be resolved it is referred to the Finance Director
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 Fair 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.
Yes
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