NSSLGLOBAL LIMITED
Company number: 03879526
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
31 July 2024
Approved by:
Sally-Anne Ray
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 78%
- in 31 to 60 days: 14%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 14%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Most frequently used payment terms are 30 days. However it does vary depending on type of supply and nature of contract. Payments are made to UK suppliers weekly and foreign currency or overseas suppliers are usually paid once per month, at the beginning of the month. Payments will normally be made by bank transfer.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
The person approving the invoice or who placed the purchase order will liaise directly with the supplier if there is a problem causing the invoice not to be paid. Once the invoice has been approved for payment then it will be paid on the next payment run that falls after it's due date. We have rarely had issues with invoices not being paid if there is not a dispute and so there is not a formal process. If needed the supplier should speak to Accounts Payable who can raise it to the CFO if it cannot easily be resolved.
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 Fair 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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No