Published reports

T.J.SMITH AND NEPHEW,LIMITED

Company number: 00093994

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

Reporting period:

1 January 2024 to 30 June 2024

Report filed on:

5 August 2024

Approved by:

Smith, Alex

Payment statistics

Average time taken to pay invoices: 41 days

Invoices paid:

  • within 30 days: 57%
  • in 31 to 60 days: 38%
  • in 61 days or more: 5%

Late and disputed:

  • payments due in the reporting period which have not been paid within the agreed period: 10%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

60 days

Standard payment terms

The standard payment terms are 60 days. The standard payment terms for small enterprises are 30 days.

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

60 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Any dispute or claim (regardless of its legal or equitable theory) arising in connection with the Order, or any act or omission in its performance shall be resolved solely and finally by binding arbitration conducted by a single arbitrator in accordance with the Rules of Arbitration of the International Chamber of Commerce ("the ICC") The seat of the arbitration will be London. The arbitration language shall be English.

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.

Yes, this business has signed up to: Prompt payment code

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