BROWN AND MASON LIMITED
Company number: 00686405
Reporting period:
1 May 2019 to 31 October 2019
Report filed on:
29 November 2019
Approved by:
L. Hadden
Payment statistics
Average time taken to pay invoices: 84 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 23%
- in 61 days or more: 68%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 47%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Payment will be made on the relevant payment run 60 days from the end of the month following the date of the invoice. The invoice must be received in accordance with the cut off dates for each month which are supplied yearly. For an invoice to be accepted it must have the correct purchase order number quoted on the invoice. Where applicable the job ticket/delivery note should be provided with the invoice
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
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
Dispute resolution process
When an invoice is in dispute it is flagged upon input to the purchase ledger system as a query. Reports are run and emails are sent out to suppliers detailing the nature of the dispute. To resolve the dispute the supplier needs to provide the information requested or a credit note
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 Prompt 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