| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 141 | 47% | 15% | 38% | 41% |
| 01 Jan 2021 - 30 Jun 2021 | 06 Aug 2021 | 41 | 59% | 21% | 20% | 47% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Excluding intercompany invoices average payment days are 32 days (Jul-Dec21)
Maximum contractual payment period agreed
60
In general, Marken’s dispute resolution process is outlined in the contractual agreement with each supplier. In the first instance, the team responsible for reviewing invoices, queries with the supplier the disputed invoice within fifteen days of invoice receipt. Any unresolved issue will then be escalated within the business.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Marken Limited is a UK-registered logistics company, incorporated in 1980, that operates under the global brand Marken, UPS Healthcare Precision Logistics. It forms part of the wider Marken and UPS Healthcare group, which supports pharmaceutical and biotechnology companies with controlled, validated logistics services covering manufacturing through to patient delivery. The group's offering includes clinical and advanced therapy logistics, cold chain and complex secure transport, laboratory logistics and patient driven services, operating within regulated environments and under regulatory oversight. The UK entity forms part of this international network rather than an independent operation, contributing to the group's end-to-end pharmaceutical supply chain and precision logistics services delivered worldwide under the Marken brand.
Generated from the company's website and Companies House records. Sources: marken.com · marken.com