Company number: 01693112
and approved by Andrew Walsham
Average time taken to pay invoices: 47 days
Invoices paid:
Invoices due but not paid within agreed terms: 49%
30 days
60 days
As standard, Nisbets PLC pay its suppliers and distributors no later than 60 days from the date of the invoice received. Variations to the standard payment terms are negotiated with certain suppliers by exception and are agreed by both parties.
Answer not provided
N/A
60 days
The maximum contractual term available is 60 days following the month end of the invoice date.
Maximum contractual terms for payments in this period are 60 days following the month end of the invoice date, which gives a maximum payment period of 91 days. There are 724 invoices with a value of £2,217,837.65 due for payment in this period with these terms.
Nisbets PLC have a dedicated Purchase Ledger team with specific accounts allocated to individuals in that team, allowing suppliers a direct, named, point of contact. In the event of disputed charges, our policy is to investigate the invoice in question, such as inspecting Goods Received Notes depending on its nature, and communicate directly with the supplier to ensure timely resolution. Dependent on the specific contract terms, we would potentially withhold payment on the disputed portion of the invoice, or raise a debit note for those items until the query is resolved.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No