Ranked in 5 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
FANNIN (UK) LIMITED exhibits a strong trend of delayed payments, with an average payment time of 51 days and 81% of invoices paid late. Only a small minority (22%) adhere to 30-day terms, indicating that payments consistently extend into the 31-60 day window and beyond. This trajectory suggests a standard expectation for payment within two months, rather than the conventional one month.
Payments from FANNIN (UK) LIMITED are reliably late, with 81% exceeding agreed terms and the majority (55%) settling between 31 and 60 days. While there's a predictable delay, the 23% of payments exceeding 60 days introduces a degree of uncertainty regarding exact settlement timing. This pattern presents a moderate risk to supplier cash flow, as a substantial portion of invoices will require extended credit beyond two months.
Based on the consistently late payment behavior, suppliers should proceed with caution and adjust expectations regarding payment timelines for FANNIN (UK) LIMITED. It is advisable to factor an average payment cycle of 50-60 days into cash flow projections and consider negotiating extended payment terms (e.g., Net 60) upfront. Mitigation strategies could include requesting partial upfront payment for larger orders or imposing late fees to offset potential liquidity impacts.
| 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 Oct 2023 - 31 Mar 2024 | 22 Aug 2024 | 41 | 46% | 30% | 24% | 60% |
| 01 Apr 2023 - 30 Sept 2023 | 22 Aug 2024 | 50 | 24% | 45% | 31% | 80% |
| 01 Apr 2019 - 30 Sept 2019 | 29 Oct 2019 | 51 | 22% | 55% | 23% | 81% |
| 01 Oct 2018 - 31 Mar 2019 | 30 Apr 2019 | 53 | 23% | 52% | 25% | 80% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 57 | 22% | 46% | 32% | 79% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
This is negotiable with the suppliers, we don't have one set payment term, it can range from immediate payment up to and including payment terms of 90 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
A complaint or concern will be considered by the person who ordered the goods or services. Invoices are usually put on hold until the matter is resolved. Suppliers are kept informed of the stage that the invoice is at until approved for payment.
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
Fannin (UK) Limited trades as Fannin, a supplier of medical devices, medicines and diagnostic products to healthcare professionals and patients across the UK and Ireland. It specialises in laparoscopic and theatre essentials, critical care, cardiovascular, surgical procedure and gastroenterology, pulmonology and urology products, and is the exclusive UK distributor of Medi-Globe and Urotech single-use endoscopic devices, part of the Medi-Globe Group acquired by DCC Healthcare in 2022. Its registered office is at a DCC Vital site in Derbyshire, indicating it operates as part of the wider DCC Healthcare group. Brands supplied include Espiner, VacSax and Skintact. The company focuses on distribution and supply of specialist medical products rather than manufacturing them itself.
Generated from the company's website and Companies House records. Sources: fannin.eu · fannin.eu