GOV.UK
MAGNOX LIMITED
Company number: 02264251
Reporting period:
1 April 2023
to 30 September 2023
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 26 October 2023
and approved by Gordon Frisby
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 7%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 10 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Magnox shall make payment to the Supplier within thirty (30) calendar days from the date on which the Supplier’s invoice is regarded as valid and undisputed in accordance with the requirements of the Contract.
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
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
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.
Yes
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