Company number: 06375220
and approved by Gervase King
Average time taken to pay invoices: 46 days
Invoices paid:
Invoices due but not paid within agreed terms: 6%
10 days
Answer not provided
MBNL does not have a standard payment term. MBNL commits to pay all valid and undisputed invoices promptly, within the payment terms agreed with individual suppliers. All payment terms are agreed with individual suppliers and documented in procurement contracts. The most frequently used payment term in the reporting period is 30 days.
Answer not provided
N/A
120 days
No further comment provided
N/A
When an invoice is disputed, the supplier will receive an email from MBNL Accounts Payable Team or the original purchase order creator indicating the invoice number and dispute reasons (e.g., invalid invoiced entity, over-invoiced, incorrect information, etc). To resolve a dispute, the supplier is required to provide any missing information or a revised invoice. MBNL follows a strictly no PO, no pay policy. On a regular basis, MBNL Accounts Payable Team perform a supplier statement reconciliation with suppliers to discuss and follow up on the status of payment and resolution of disputed invoices (if any).
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