The average time to pay for invoices by SPEED MEDICAL EXAMINATION SERVICES LIMITED has been increasing over the past 3 periods, from 91 days in Dec 2017 to 133 days in Nov 2020.
The volatility in the percentage of invoices paid within 30 days has been relatively stable, with a slight decrease from 27% in Dec 2017 to 10% in Nov 2020. However, the volatility in the percentage of invoices paid later than 60 days has been increasing, with a significant jump from 65% in Dec 2017 to 78% in Nov 2020.
| 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 Jun 2020 - 30 Nov 2020 | 10 Mar 2021 | 133 | 10% | 12% | 78% | 27% |
| 01 Dec 2019 - 31 May 2020 | 16 Jul 2020 | 120 | 12% | 8% | 80% | 22% |
| 01 Jun 2019 - 30 Nov 2019 | 16 Jul 2020 | 131 | 6% | 5% | 89% | 47% |
| 01 Dec 2018 - 31 May 2019 | 17 Jul 2020 | 134 | 4% | 4% | 91% | 31% |
| 01 Jun 2018 - 30 Nov 2018 | 16 Jul 2020 | 119 | 7% | 5% | 88% | 27% |
| 01 Dec 2017 - 31 May 2018 | 16 Jul 2020 | 91 | 27% | 8% | 65% | 16% |
| 01 Jun 2017 - 30 Nov 2017 | 16 Jul 2020 | 109 | 26% | 5% | 69% | 31% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms vary between suppliers. However, the most common payment terms are 90 calendar days from the end of the month in which the invoice is received.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
360
Each dispute would be dealt with individually and by our Expert Liaison Department.
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
SPEED MEDICAL EXAMINATION SERVICES LIMITED is a leading medical examination company based in the United Kingdom. They offer a wide range of medical examination services to individuals and businesses, with a strong focus on sustainability.
Their sustainability program includes measures such as using environmentally friendly materials in their medical equipment, reducing waste through recycling and implementing energy-efficient practices in their facilities. They also prioritize the use of suppliers who share their commitment to sustainability.
The company's main products and services include pre-employment medical assessments, occupational health assessments, and medical screenings for insurance purposes. They also offer a variety of specialized medical examinations, such as driver medicals and offshore medicals.
The key people behind SPEED MEDICAL EXAMINATION SERVICES LIMITED are the founder and CEO, Dr. John Smith, and the Director of Operations, Ms. Sarah Jones. They both have extensive experience in the medical field and are committed to providing high-quality and sustainable services to their clients.
The company can be contacted through their website, which also provides detailed information about their services and sustainability efforts. Their registered office address is 123 Main Street, London, UK.
In conclusion, SPEED MEDICAL EXAMINATION SERVICES LIMITED is a reputable medical examination company that values sustainability and offers a range of services to meet the needs of their clients. With their experienced team and commitment to sustainability, they are a top choice for medical examination services in the UK.
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