NTT SECURITY (UK) LIMITED
Company number: 03403334
Reporting period:
1 October 2018 to 31 March 2019
Report filed on:
1 May 2019
Approved by:
Clive Lewis
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 29%
- in 61 days or more: 51%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Our standard payment terms is 30 days end of month
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Process for dispute resolution for overdue invoices Resolving invoices in dispute can be a time consuming exercise. These can be straightforward errors for example: • value incorrect • purchase order not quoted on invoice • not enough information on invoice Occasionally you will receive invoices in dispute that will require help from outside your department for example: • Professional Services worked carried out, but invoiced wrong value/quantity – this would need the help from your Resource Management Department to confirm and sign off • Goods received – ordering department realize they are not what they want • Invoiced in advanced but payment terms are still the same – even when goods haven’t arrived – being chased for payment • quantity ordered only part of the order received – invoiced in full All of these disputes should be resolved in a timely manner. First port of call is to review invoice and gather all relevant information relating to this order
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