Company number: 01002607
1 April 2022
to 30 September 2022
This report was filed on 28 October 2022
and approved by MARTIN CHOWN
Average time taken to pay invoices: 26 days
- within 30 days: 68%
- in 31 to 60 days: 30%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 4 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Sellafield currently employs three different payment terms that can be considered as standard, as described below:
Nett Cash Monthly - Payment is made by the end of the month following the month in which the invoice is dated - this payment term remains in use for contracts / frameworks in place prior to 26/02/2015 – the date upon which the Public Contracts Regulations 2015 came into force. Use of this payment term is diminishing as these legacy contracts / frameworks come to an end.
30 Days from Invoice Validation - Payment is made no later than a period of 30 days from the date on which Sellafield Ltd has determined that the invoice is valid and undisputed. This payment term generally applies to contracts / frameworks placed from 26/02/2015 onwards.
21 Days Net - Payment is made within 21 days of the date of the invoice – this is tailored to take account of the payment process under NEC 3 contract terms and conditions.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
End of month plus 30 days
Any other information about payment terms
Dispute resolution process
Sellafield Limited actively seeks to resolve disputes by discussing them with the relevant supplier(s), typically involving contract management teams from both parties. Where agreement cannot be reached at a working level, the dispute will be discussed between senior representatives of the parties.
Where it is not possible to reach agreement most contracts will contain a dispute resolution procedure, which details the route for mediation, arbitration and bringing a claim in the courts.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?