NIKE (UK) LIMITED
Company number: 01887016
Reporting period:
1 June 2018
to 30 November 2018
This report was filed on 12 December 2018
and approved by Nigel Bond
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 12%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 20 %
Payment terms
Shortest standard payment period
10 days
Longest standard payment period
90 days
Standard payment terms
30 days for third party vendors, 90 days for intercompany vendors and 10 days for employee expenses.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
90 day terms apply to intercompany transactions only. Maximum payment terms for 3rd party vendors are 45 days.
Any other information about payment terms
Nike UK Limited has chosen the most prudent
approach when calculating these metrics, using
the document date rather than the system posting
date to calculate payment days. In some
instances this can be impacted by vendors
backdating invoices.
Dispute resolution process
Vendors should contact the finance helpdesk via
e-mail in the first instance for all invoicing and
payment disputes. The helpdesk may then reach
out to the Nike business partner or a member of
the Nike Financial Controlling team for assistance
and information in order to resolve the dispute.
Should this fail, the dispute will be escalated to
the Nike Financial Controlling team for
correspondence with the vendor in question via email
or telephone to enable swift resolution of the
dispute.
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.
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