There has been a noticeable increase in the average time taken for FANNIN (NI) LIMITED to pay their invoices, with a 50% increase from the first to the third period. This trend is also reflected in the increase in the percentage of invoices paid later than 60 days.
While the average time to pay has remained relatively stable, there has been significant volatility in the percentage of invoices paid within 30 days and between 31 and 60 days. The percentage of invoices paid within 30 days has fluctuated between 36% and 41%, while the percentage of invoices paid between 31 and 60 days has ranged from 38% to 44%. This volatility suggests that FANNIN (NI) LIMITED may not have a consistent payment process in place.
| 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 2018 - 30 Sept 2018 | 30 Oct 2018 | 43 | 38% | 41% | 21% | 64% |
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 60 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
60
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 (NI) Limited is a Northern Ireland registered company based in Belfast, incorporated in 1988. Its Companies House record classifies it under retail sale of medical and orthopaedic goods in specialised stores. It previously traded as D. & H. Medical Limited, then B.M. Browne (N.I.) Limited, and briefly as Fannin Healthcare (NI) Limited, before adopting its current name. The available evidence does not describe specific products, customers or operational detail beyond this registered classification and history of directors linked to Ireland. Based on the SIC coding, the company operates within the supply of medical and orthopaedic goods to specialist outlets rather than manufacturing them itself.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk