NATIONAL NUCLEAR LABORATORY LIMITED

Company number: 03857752

Reporting period:
1 April 2022 to 30 September 2022

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This report was filed on 31 October 2022

and approved by Matthew S Miller

Payment statistics

Average time taken to pay invoices: 7 days

Invoices paid:

• within 30 days: 99%
• in 31 to 60 days: 1%

Invoices due but not paid within agreed terms: 2%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

61 days

Standard payment terms

NNL uses a Procurement card to settle a significant proportion (62.19%) of its supply chain purchases immediately. Where credit terms are operated our standard practice is to pay undisputed valid invoices within 30 days of receipt. However, variations to these terms do exist based on agreements with certain suppliers which were in place prior to NNL becoming a Contracting Authority on 1 April 2017. Supplier payments are processed weekly

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

61 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone’s satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our Accounts Payable team, it would be escalated in the first instance to the relevant Head of Department to seek resolution.

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.

Yes, this business has signed up to: NNL follows the Prompt Payers Code of Practice drawn up by the Confederation of British Industry (CBI).

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