SMBC NIKKO CAPITAL MARKETS LIMITED

Company number: 02418137

Reporting period:
1 October 2022 to 31 March 2023

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This report was filed on 21 April 2023

and approved by ANTONY YATES

Payment statistics

Average time taken to pay invoices: 20 days

Invoices paid:

• within 30 days: 86%
• in 31 to 60 days: 11%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 14%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

30 days

Standard payment terms

The intention is to settle all invoices within 30 days of receipt of invoice.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

30 days

Our usual practice is to adopt the payment terms as stipulated by the supplier. The 7 day shortest terms is for certain services, but in practice payment within 2-3 weeks is acceptable to the supplier.

Any other information about payment terms

n/a

Dispute resolution process

Accounts Payable will liaise with the supplier informing them of the relevant issues and what is required to reach resolution. Initially we would look to resolve any issues between key stakeholder and the supplier. Should we not be able to achieve resolution via this approach the matter would be referred to our Legal Department.

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, 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.

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