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NICE-PAK INTERNATIONAL LIMITED

Company number: 02119397

Reporting period:
1 July 2023 to 31 December 2023

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This information is as reported by the business, and responses are in their own words.

This report was filed on 30 January 2024

and approved by David Cowell

Payment statistics

Average time taken to pay invoices: 52 days

Invoices paid:

• within 30 days: 19%
• in 31 to 60 days: 48%
• in 61 days or more: 33%

Invoices due but not paid within agreed terms: 81 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

67 days

Standard payment terms

Standard terms of 60 days with a bi-weekly payment to give an average of 67 days credit

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

All vendors have access to a generic email and where appropriate an individual person from accounts payable. Queries settled by initial contact where possible but can be escalated as required.

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