NRAM LIMITED
Company number: 09655526
Reporting period:
1 April 2018
to 30 September 2018
This report was filed on 25 October 2018
and approved by Martin Scott
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 9%
- in 61 days or more: 18%
Invoices due but not paid within agreed terms: 47 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Invoices which are valid and properly submitted in accordance with the agreed terms and conditions of contract are payable within 30 days following the date on which the invoice is received (unless an invoice is disputed).
Where appropriate, contractual provisions are included to provide the supplier with a remedy for late payment of invoices.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Dispute resolution procedures are typically in the contract and set out escalation procedures/default positions if disputes cannot be resolved between the contracting parties.
A potential supplier dispute management process forms part of the UKAR's Procurement Policy. This process sets out how potential supplier disputes should be notified and addressed internally to ensure the right business functions are engaged.
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
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