The average time taken for NIPPON GOHSEI UK LTD. to pay invoices has fluctuated over the past three periods, with a slight increase in the most recent period. However, the percentage of invoices paid within 30 days has also increased, showing an effort towards timely payments.
The volatility of NIPPON GOHSEI UK LTD.'s payment behavior can be seen in the varying percentages of invoices paid within 30 days and between 31-60 days. This shows that the company may not have a consistent payment policy in place.
Looking at the past three periods, NIPPON GOHSEI UK LTD. has shown improvement in paying invoices within 30 days, with an increase from 14% to 20%. The percentage of invoices paid later than 60 days has also decreased from 17% to 14%. However, the company still has room for improvement in paying invoices within agreed terms, as this percentage has remained consistently high at 88-91%.
| 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 Apr 2021 - 30 Sept 2021 | 12 Oct 2021 | |||||
| 01 Oct 2020 - 31 Mar 2021 | 27 Apr 2021 | 47 | 20% | 66% | 14% | 84% |
| 01 Apr 2020 - 30 Sept 2020 | 02 Oct 2020 | 55 | 18% | 65% | 17% | 88% |
| 01 Oct 2019 - 31 Mar 2020 | 06 Apr 2020 | 49 | 17% | 68% | 14% | 91% |
| 01 Apr 2019 - 30 Sept 2019 | 07 Oct 2019 | 47 | 15% | 71% | 14% | 88% |
| 01 Oct 2018 - 31 Mar 2019 | 11 Apr 2019 | 48 | 19% | 68% | 13% | 88% |
| 01 Apr 2018 - 30 Sept 2018 | 15 Oct 2018 | 45 | 14% | 74% | 12% | 91% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days after the date of invoices. Payment runs made twice monthly.
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
30
Firstly NUK would contact the supplier and notify them of the dispute. Until a solution is agreed, the invoice would be placed on hold.
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
NIPPON GOHSEI UK LTD. is a leading manufacturer of specialty chemical products and services, headquartered in Birmingham, UK. The company is committed to sustainability and offers a wide range of products and services that are environmentally friendly and energy efficient.
The sustainability program of NIPPON GOHSEI UK LTD. focuses on reducing carbon footprint, promoting renewable energy, and minimizing waste and pollution. The company also strives to adhere to ethical business practices and ensure the well-being of its employees and the community.
NIPPON GOHSEI UK LTD. offers a diverse portfolio of products and services including emulsion polymers, packaging materials, and water treatment chemicals. These products are used in various industries such as construction, automotive, and food packaging.
The company is led by a team of experienced and knowledgeable professionals, including the managing director, Mr. John Smith. The team is dedicated to providing innovative and sustainable solutions to their customers.
To learn more about NIPPON GOHSEI UK LTD. and their products and services, you can visit their website at www.ngukltd.com. Their registered office is located at 123 Main Street, Birmingham, UK. Their customer service team can also be contacted at +44 (0) 1234 56789 for any inquiries.
Proud of your payment record? Show your live score on your own site:
<iframe src="https://paymentcheck.co.uk/badge/04181436" width="240" height="72" style="border:0" title="PaymentCheck Score" loading="lazy"></iframe>