MAGNOX LIMITED

Company number: 02264251

Reporting period:
1 April 2018 to 30 September 2018

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This report was filed on 23 October 2018

and approved by Paul Lloyd Edwards

Payment statistics

Average time taken to pay invoices: 24 days

Invoices paid:

• within 30 days: 85%
• in 31 to 60 days: 13%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 16%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

Payment shall be effected on the last working day of the month following the month in which a correctly addressed invoice is dated, provided that all requisite documents have been received by Magnox. Magnox however actually pay on 30 day payments terms from point of accepted 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

60 days

N/A

Any other information about payment terms

60 days - based on 30 Days from the end of Month terms.

Dispute resolution process

Suppliers must contact the individual named in the Contract or Purchase Order in the first instance. Resolution is achieved based on the relevant provisions set out in the specific contract terms.

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.

Yes

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