LNRS DATA SERVICES LIMITED
Company number: 00151537
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
26 July 2022
Approved by:
Jamie O'Sullivan
Payment statistics
Average time taken to pay invoices: 12 days
Invoices paid:
- within 30 days: 96%
- in 31 to 60 days: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
LNRS Data Services LTD (LNRS) standard payment terms are ‘net monthly’, that is, invoices will be paid in the first available weekly payment run following the end of the month after the month in which the invoice is dated
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
67 days
No further comment provided
Any other information about payment terms
Of the suppliers which informed us that they are a small business, as defined by the Prompt Payment Code, we paid 95% in 30 days from receipt of invoice.
Dispute resolution process
Both the supplier and LNRS shall endeavour to settle at the earliest possible date any invoicing matters in dispute. The supplier can escalate the dispute by emailing: accountspayable@lexisnexisrisk.com with a copy of invoice and correspondence to date in respect of the dispute, providing an outline of the issue(s). Accounts Payable will escalate the information within the organisation to facilitate the resolution where possible.
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