NMB-MINEBEA UK LTD
Company number: 02194706
Reporting period:
1 April 2018 to
30 September 2018
This report was filed on 10 October 2018
and approved by Mark Stansfield
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 61%
- in 31 to 60 days: 37%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 27%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
the majority of payment terms are 30 days but some suppliers we have agreed 60 & 90 day terms
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
90 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
We work with our suppliers to resolves any queries as promptly as possible. If the problem is to do with parts that do not conform, due to the nature of our business we cannot accept these.
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, 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