How long does Nesta take to pay its suppliers?

Standard payment terms

Standard Terms: The Charity operates a flexible, decentralised procurement model to ensure agility in our charitable work. We do not currently mandate a universal Purchase Order (PO) system or a single set of standard terms. Instead, we typically honour the specific terms requested by our suppliers on their individual invoices. For reporting purposes, we identify the most frequently occurring payment period within our supplier data as our standard term. Payment Processing: We operate a centralised payment run every two weeks. Our policy is to include all approved and coded invoices in the run preceding their due date to ensure proactive settlement. Flexibility and Exceptions: While we strive for 100% on-time payment, the following factors influence our reported statistics and contrib

Dispute resolution

In the event of a query regarding an invoice, suppliers are encouraged to contact their primary contact in the first instance. This allows for a direct review of the services or goods provided. Where necessary, queries are escalated to our Finance department for further investigation and resolution. Invoices subject to a query are held from the payment cycle until the details have been verified by the relevant budget holder. Upon resolution, we aim to settle the invoice as efficiently as possible and can facilitate out-of-cycle payments where necessary to ensure the supplier is not further delayed by the timing of our standard fortnightly runs.