MAVENIR SYSTEMS LIMITED

Company number: 02693122

Reporting period:
1 February 2018 to 31 July 2018

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This report was filed on 1 November 2018

and approved by Robin Thorn

Payment statistics

Average time taken to pay invoices: 77 days

Invoices paid:

• within 30 days: 18%
• in 31 to 60 days: 37%
• in 61 days or more: 45%

Invoices due but not paid within agreed terms: 45%

Payment terms

Shortest standard payment periods

15 days

Longest standard payment period

60 days

Standard payment terms

The standard terms are 60 days

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

Mavenir’s payment cycles are on the 5th and 20th of each calendar month.  The period for payment will be calculated from the payment cycle date of each calendar month.

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

Email explaining details with contact details for questions

Maximum contractual payment period agreed

75 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

AP sends an email to the vendor informing invoice has been rejected (for various reasons). Vendor then is required to provide supporting documents. Internal BU reviews and determines whether to approve/reject.

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?

Yes

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No