CME TECHNOLOGY AND SUPPORT SERVICES LIMITED
Company number: NI610336
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
24 January 2025
Approved by:
Adrienne Seaman
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 89%
- in 31 to 60 days: 10%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
45 days
Standard payment terms
CME shall make payment to Company forty five (45) days from the date of the receipt of the invoice provided that there is no reasonable dispute with respect to the work.
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
When AP receives a query from a vendor regarding a payment for an invoice, a check would be done to see if the invoice has been processed for payment. AP would then provide the vendor with the details and breakdown of the payment. AP would also confirm that the remittances are being sent to the correct email address and update if needed. If the invoices had not been paid AP would provide an update of the status of the invoice and work with the business to get the invoices paid and to try to prevent late payment going forwards. Once the invoices are paid AP would contact the vendor again to confirm they had received the funds. If there are any discrepancies on the invoice (E.g., pricing or delivery), AP would notify the vendor and internal contact at point of input in the AP system to get it resolved and paid in a timely manner. AP would also advise of any changes needed to be made to any future invoices to prevent any further delays.
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