CORIN LIMITED

Standard payment terms

The standard payment is based on the average between the shortest and longest terms we do as a company, Some payments will vary month to month depending on when the payment run falls within that month and occasionally we have a legal invoice which would carry a paid on receipt of invoice payment term.

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

No information available

Any other information about payment terms

The invoices paid outside of agreed terms is impacted by our BACS run procedure. A BACS run is completed at the beginning of each month for all invoices due during the previous month, this means that a number of invoices are shown as paid late, including items late by just 1 day. Our procedure helps to capture invoices monthly in the payment run with a consistent payment pattern for suppliers. In an orthopaedics company it is very common for terms to be 60 days or longer therefore our average percentage for 60+ days is

Maximum contractual payment period agreed

121

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