MARIA MALLABAND LIMITED
Company number: 02156720
Reporting period:
1 November 2018 to 30 April 2019
Report filed on:
22 May 2019
Approved by:
Peter Fagan
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 33%
- in 31 to 60 days: 41%
- in 61 days or more: 26%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 7%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
90 days
Standard payment terms
Our most frequently used payment terms are to pay suppliers within 45 days from the end of the month in which we receive the relevant invoice from the supplier and this has been validated by the site receiving the supplies and confirmed to our central accounts payable team. We will always endeavour to trade on these terms with all suppliers, except where there are material circumstances, businesses with unique products/services or where identified as vital to the business in which event more favourable terms may be offered to alleviate cash flow issues.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Where there are complaints from suppliers concerning payment, our central accounts payable team can provide an initial update. If an invoice is in query or under review they would advise the supplier of this and endeavour to assist with resolving the issue. The most common reason for invoices in query are for those awaiting site confirmation and delivery status.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No